HUMANA INC

Humana Inc. announced that its senior management will meet with investors and analysts throughout June 2026. During these meetings, the company intends to reaffirm its full-year 2026 guidance. This includes diluted earnings per common share (GAAP) of at least $8.36 and adjusted earnings per common share (non-GAAP) of at least $9.00, consistent with previous guidance.

Humana Inc. secured $1.5 billion in on-demand capital and liquidity through the issuance and sale of Pre-Capitalized Trust Securities (P-Caps) by two separate trusts. Each trust issued $750 million in P-Caps, allowing Humana to issue up to $750 million in 6.062% Senior Notes due 2036 and $750 million in 6.887% Senior Notes due 2055. This financing structure provides flexible access to capital, with facility fees of 1.661% and 1.916% on unexercised portions, and includes provisions for mandatory exercise under certain conditions.

Humana Inc. reported Q1 2026 revenues of $39.65 billion, a 23.5% increase year-over-year, while net income attributable to Humana decreased by 4.7% to $1.19 billion, resulting in diluted EPS of $9.83. The company also completed the acquisition of MaxHealth, a Florida-based primary care organization, for approximately $908 million in cash. Operating cash flow saw a significant increase to $1.25 billion, despite higher benefits payable and charges related to value creation initiatives.

Humana Inc. reported Q1 2026 GAAP EPS of $9.83 and Adjusted EPS of $10.31, meeting the high end of its guidance. The company affirmed its FY 2026 Adjusted EPS guidance of "at least $9.00" but revised its GAAP EPS guidance to "at least $8.36" from "at least $8.89". The Insurance segment's GAAP benefit ratio was 89.4%, slightly favorable to guidance. Humana also confirmed the retirement of George Renaudin, Insurance Segment President, effective June 29, 2026, with Aaron Martin and John Barger assuming new leadership roles.

Humana Inc.'s Board of Directors expanded its authorized size from ten to eleven members. Concurrently, Robert S. Field was elected as a new independent director, effective immediately following the company's 2026 Annual Meeting of Stockholders on April 16, 2026. Mr. Field will be compensated in accordance with the company's director compensation program, which includes a grant of restricted stock units.