Humana reports higher second-quarter earnings but cuts 2026 GAAP EPS outlook

Humana reported second-quarter 2026 revenue of $40.87 billion, GAAP EPS of $5.73 and adjusted EPS of $7.61 for the quarter ended June 30, 2026, while its Insurance segment benefit ratio was 91.2%. The company affirmed adjusted 2026 EPS guidance of at least $9.00 and Medicare Advantage membership growth of approximately 25%, but lowered GAAP EPS guidance to at least $6.52 from $8.36, citing the impact of non-GAAP adjustments and the 2026 Medicare Advantage Star Ratings headwind; Humana also said CenterWell primary-care patients increased 27% year to date and that a new statewide Illinois Medicaid contract is expected to begin in January 2027.