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As of 2:54 PM 08/20/14 All times are local (Market data is delayed by at least 15 minutes).

humana inc (HUM) Key Developments

Humana Inc. Announces Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Reaffirms Earnings Guidance for the Year Ending December 31, 2014

Humana Inc. announced earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported diluted earnings per common share (EPS) of $2.19, compared to diluted earnings per common share (EPS) of $2.63 for the quarter ended June 30, 2013. As expected, EPS for second quarter of 2014 was lower than that for second quarter of 2013 due primarily to investments in health care exchanges and state-based contracts and higher specialty drug costs associated with a new treatment of Hepatitis C, partially offset by membership growth and a lower diluted share count. The company said net income fell to $344 million from $420 million in the same quarter a year ago. Revenue rose 18% to $12.22 billion from $10.32 billion in the same quarter a year earlier. A year-over-year increase in premiums and services revenue was driven by higher medical membership in the Retail segment and higher group Medicare Advantage membership in the Employer Group segment. For the six months ended June 30, 2014, the company reported EPS of $4.54 compared to $5.58 in the six months ended June 30, 2013. The lower year-over-year earnings year to date reflected the items discussed above as well as $0.41 per share benefit in first half of 2013 from the settlement of contract claims with the Department of Defense (DoD) related to previously-disclosed litigation and the absence of the impact of sequestration for the company's Medicare business. The company reaffirmed its estimate for EPS for the year ending December 31, 2014 to be in the range of $7.25 to $7.75.

Humana Appoints Douglas M. Stoss as Vice President of Federal Affairs

Humana announced that it has appointed Douglas M. Stoss as vice president of federal affairs.

Humana Inc. Hires Douglas M. Stoss as Vice President of Federal Affairs

Humana Inc. has hired Douglas M. Stoss to fill the role of Vice President of Federal Affairs. Stoss will be responsible for leading Humana's federal advocacy and engagement efforts, based in the company's Washington D.C. office. Stoss joins Humana from Bristol-Myers Squibb, where he served for five years as Director of Market Access Strategy, responsible for shaping the company's strategy for public sector activities and guiding its execution across the enterprise.

Humana Seeks Acquisitions

Humana Inc. (NYSE:HUM) seeks acquisitions. "No. There's -- we know there's one in Florida right now that's on the bubble and probably will be taken over by the state. That's an example of -- we see that happening. The question we have, Matt, frankly is do we acquire those or do we pick them up through the sales process. Because our experience has been as in some of those when you acquire them, their benefits have -- are so rich and their provider networks are being paid in such a -- they're rich, too, that for you to right size the economics, you're going to lose the members. And we think being able to pick up those members with no capital deployed is much more effective than go and acquiring them and only keeping 50% of (inaudible). But outside the Medicaid acquisition, we might do some small capability acquisitions or some physician acquisitions as an organization. But I think -- unless there's some kind of opportunity that comes to us that says the market has caused an opportunity that we look at and say let's take advantage of it. But in general, we enjoy the flexibility today. We understand and we -- not so much from your perspective, you like the low leverage, but from your counterparts in the room on the shareholder side, we realize it is an inefficient balance sheet. It is a balance sheet that the cost of capital is higher than it should be. But we're doing it as we think about the changes over the coming year or so," said Bruce Broussard, Humana Inc., President and Chief Executive Officer.

Humana Inc. Presents at Jefferies 2014 Global Healthcare Conference, Jun-03-2014 03:00 PM

Humana Inc. Presents at Jefferies 2014 Global Healthcare Conference, Jun-03-2014 03:00 PM. Venue: Grand Hyatt, New York, New York, United States. Speakers: Steven E. McCulley, Interim Chief Financial Officer, Principal Accounting Officer, Vice President and Controller.


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