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Humana reaffirms 2026 EPS of $6.52 GAAP, $9.00 adj

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Humana Inc. (HUM) announced that senior management will meet with investors and analysts between September 1 and September 30, 2026 and plans to reaffirm FY 2026 earnings guidance. The company continues to project at least $6.52 in GAAP diluted EPS and at least $9.00 in Adjusted (non-GAAP) EPS for the year ending December 31, 2026, consistent with guidance issued on July 29, 2026.

A reconciliation shows that Adjusted EPS reflects add-backs for amortization of intangibles, put/call valuation adjustments, value creation initiatives, and impairment charges, partially offset by a cumulative net tax impact. Humana states it does not expect changes to its FY 2026 Adjusted EPS guidance, but GAAP EPS guidance may change as value creation and other strategic initiatives evolve. The company also notes it will not comment on 2027 Medicare Advantage Star Ratings until CMS releases final data in October.

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Item 7.01 Regulation FD Disclosure Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
FY 2026 GAAP diluted EPS guidance at least $6.52 per share Guidance for the year ending December 31, 2026
FY 2026 Adjusted (non-GAAP) EPS guidance at least $9.00 per share Projected Adjusted EPS for FY 2026
Amortization of identifiable intangibles adjustment $0.30 per share Adjustment added to FY 2026 GAAP EPS in reconciliation
Put/call valuation adjustments $1.47 per share Adjustment related to non-consolidating minority interest investments
Value creation initiatives adjustment $1.27 per share Adjustment added in FY 2026 EPS reconciliation
Impairment charges adjustment $0.17 per share Adjustment added in FY 2026 EPS reconciliation
Cumulative net tax impact ($0.73) per share Tax-related reduction in FY 2026 Adjusted EPS reconciliation
Adjusted (non-GAAP) EPS financial
"The Company has included Adjusted (non-GAAP) EPS in this"
Medicare Advantage (MA) Star Ratings medical
"The Company will not be commenting on 2027 Medicare Advantage (MA) Star Ratings"
value creation initiatives financial
"The Company does expect potential changes to its FY 2026 GAAP EPS guidance due to its ongoing value creation"
Value creation initiatives are concrete actions a company takes to increase its worth for investors, such as cutting waste, improving operations, launching new products, selling noncore assets, or reallocating capital. Think of it like renovating a house before putting it on the market: the goal is to boost long‑term cash flow and profits so the business is more attractive and can command a higher price, which matters because it directly affects returns to shareholders.
forward-looking statements regulatory
"includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
Private Securities Litigation Reform Act of 1995 regulatory
"within the meaning of the Private Securities Litigation Reform Act of 1995"

FAQ

What FY 2026 GAAP EPS guidance did HUMANA INC (HUM) reaffirm?
Humana reaffirmed FY 2026 guidance for diluted GAAP earnings per common share of at least $6.52 for the year ending December 31, 2026, as presented during planned investor and analyst meetings in September 2026.

What is Humana Inc. (HUM) projecting for FY 2026 Adjusted (non-GAAP) EPS?
Humana projects FY 2026 Adjusted (non-GAAP) EPS of at least $9.00 for the year ending December 31, 2026, and states it does not expect changes to this Adjusted EPS guidance.

How does Humana reconcile FY 2026 GAAP EPS to Adjusted EPS?
Starting from GAAP EPS of at least $6.52, Humana adds $0.30 amortization of identifiable intangibles, $1.47 put/call valuation adjustments, $1.27 value creation initiatives, $0.17 impairment charges, and a ($0.73) cumulative net tax impact to reach Adjusted EPS of at least $9.00.

Will Humana Inc. (HUM) change its FY 2026 EPS guidance?
Humana states it does not expect changes to FY 2026 Adjusted (non-GAAP) EPS guidance. It does expect potential changes to FY 2026 GAAP EPS guidance due to ongoing value creation and other strategic initiatives.

When will Humana comment on 2027 Medicare Advantage Star Ratings?
Humana states it will not be commenting on 2027 Medicare Advantage (MA) Star Ratings (Bonus Year 2028) until the Centers for Medicare and Medicaid Services releases final 2027 MA Star Ratings data in October.

What is the purpose of Adjusted (non-GAAP) EPS for Humana Inc. (HUM)?
Humana uses Adjusted (non-GAAP) EPS alongside GAAP EPS to analyze core operating performance over time, for planning and decision-making, and to help determine incentive compensation, while noting it is not a substitute for GAAP EPS and has inherent limitations.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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0000049071false00000490712026-09-012026-09-01


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 1, 2026 (September 1, 2026)
Humana Inc.
(Exact name of registrant as specified in its charter)
Delaware001-597561-0647538
(State or other jurisdiction of incorporation)(Commission File Number)(IRS Employer Identification No.)
101 East Main Street, Louisville, Kentucky 40202
(Address of principal executive offices, including zip code)

(502) 580-1000
(Registrant’s telephone number, including area code)


(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading SymbolName of each exchange on which registered
Common StockHUMNew York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company  ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐



Item 7.01. Regulation FD Disclosure.

Members of Humana Inc.’s (the “Company”) senior management team are scheduled to meet with investors and analysts at various meetings between September 1, 2026 and September 30, 2026. During these meetings, the Company intends to reaffirm its guidance of at least $6.52 in diluted earnings per common share (“EPS”) or at least $9.00 in adjusted earnings per common share (“Adjusted EPS”), in each case for the year ending December 31, 2026 (“FY 2026”). This guidance is consistent with the guidance issued in Humana’s press release dated July 29, 2026.

As a reminder, the Company will not be commenting on 2027 Medicare Advantage (MA) Star Ratings (Bonus Year 2028) until the Centers for Medicare and Medicaid Services (CMS) releases final 2027 MA Star Ratings data in October.

The Company has included Adjusted (non-GAAP) EPS in this current report, a financial measure that is not in accordance with Generally Accepted Accounting Principles (“GAAP”). Management believes that this measure, when presented in conjunction with the comparable measure of GAAP EPS, provides a comprehensive perspective to more accurately compare and analyze the Company’s core operating performance over time. Consequently, management uses Adjusted (non-GAAP) EPS as a consistent indicator of the Company’s core business operations from period to period, as well as for planning and decision-making purposes and in determination of incentive compensation. Adjusted (non-GAAP) EPS should be considered in addition to, but not as a substitute for, or superior to, GAAP EPS. The Company’s Adjusted (non-GAAP) EPS is not intended to normalize earnings, eliminate volatility, or represent future performance. Adjusted (non-GAAP) EPS is subject to inherent limitations and may differ from the similarly titled measure used by other companies. A reconciliation of GAAP EPS to Adjusted (non-GAAP) EPS follows:

Diluted earnings per shareFY 2026 Guidance
GAAPat least $6.52
Amortization of identifiable intangibles0.30 
Put/call valuation adjustments associated with the company's non-consolidating
minority interest investments (a)
1.47 
Value creation initiatives (a)1.27 
Impairment charges (a)0.17 
Cumulative net tax impact(0.73)
Adjusted (non-GAAP) – FY 2026 projected (a)at least $9.00
(a)FY 2026 GAAP EPS guidance and FY 2026 Adjusted (non-GAAP) EPS guidance exclude the impact of value changes to items that have not yet been recognized or cannot currently be reasonably estimated at this time. The Company does not expect changes to its FY 2026 Adjusted (non-GAAP) EPS guidance. The Company does expect potential changes to its FY 2026 GAAP EPS guidance due to its ongoing value creation and other strategic initiatives.

Cautionary Statement

This Current Report on Form 8-K includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, generally including the words or phrases like “expects,” “believes,” “anticipates,” “intends,” “likely will result,” “estimates,” “projects” or variations of such words and similar expressions that are intended to identify such forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and assumptions, including, among other things, information set forth in the “Risk Factors” section of the Company’s SEC filings.









SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.
HUMANA INC.
BY:/s/ John-Paul W. Felter
John-Paul W. Felter
Senior Vice President, Chief Accounting Officer & Controller
(Principal Accounting Officer)
Dated: September 1, 2026

Source: View Original Filing on SEC EDGAR

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