---
schema_version: "secwatch.filing_event.v1"
accession: "0000049071-23-000062"
form_type: "8-K"
ticker: "HUM"
cik: "0000049071"
company_name: "HUMANA INC"
filed_at: "2023-11-01T23:59:59+00:00"
generated_at: "2026-06-09T03:29:30.198061+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Humana Q3 Adj EPS $7.78 beats; raises MA membership 19% to 860k; affirms FY Adj EPS at least $28.25

## Summary
- GAAP EPS $6.71, Adj EPS $7.78; revenue $26.4B (+16% YoY).
- FY 2023 GAAP EPS guidance revised to 'at least $26.31' from $26.91; Adj EPS affirmed at 'at least $28.25' (up from initial $28.00).
- Individual MA membership growth raised by 35k to ~860k, 19% growth YoY, significantly above industry.
- 94% of MA members in 4-star+ contracts for 2024; 61% in 4.5+ stars; industry leader 6th consecutive year.
- Benefits expense ratio 86.6% (GAAP) vs 85.6% prior year; operating cost ratio improved to 12.5% from 13.5%.

## SEC filing metadata
- accession: 0000049071-23-000062
- form_type: 8-K
- ticker: HUM
- cik: 0000049071
- company_name: HUMANA INC
- filed_at: 2023-11-01T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/49071/000004907123000062/0000049071-23-000062-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/49071/000004907123000062/hum-20231101.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000049071-23-000062
- JSON: https://secwatch.observer/filing/0000049071-23-000062.json
- Plain text: https://secwatch.observer/filing/0000049071-23-000062.txt

## Key facts
- Earnings Releases
  HUMANA INC reported the quarter ended September 30, 2023 (3Q23) results: revenue $26,423, EPS $6.71.
  - Period: the quarter ended September 30, 2023 (3Q23)
  - Revenue: $26,423
  - EPS: $6.71
  - Result: reported results
  source text: by Humana on February 23, 2023 . Humana Inc. Summary of Results ($ in millions, except per share amounts) 3Q23 (a) 3Q22 (a) YTD 2023 (a) YTD 2022 (a) CONSOLIDATED Revenues $26,423 $22,799 $79,912 $70,431 Revenues - Adjusted (non-GAAP) $25,526 $21,600 $76,911 $67,001 Pretax results $1,098 $1,297 $3,974 $3,639 Pretax results - Adjusted (non-GAAP) $1,268
  evidence_url: https://www.sec.gov/Archives/edgar/data/49071/000004907123000062/0000049071-23-000062-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.