Humana (HUM) Tops Q3 EPS by 13c, Raises FY EPS Guidance
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Revenue Growth %: +6.6%
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Benefits: 10.9B
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Humana (NYSE: HUM) reported Q3 EPS of $3.39, $0.13 better than the analyst estimate of $3.26.
GUIDANCE:
Humana sees FY2017 EPS of $11.60 versus $11.50 prior and the consensus of $11.57.
Throughout 2017, the company has been committed to productivity initiatives designed to promote operational excellence, accelerate its strategy, fund critical initiatives and advance its growth objectives. In 3Q17, the company initiated a voluntary Early Retirement Program and an involuntary workforce reduction program that will allow it to achieve these objectives and position the company for the future. These programs are expected to impact approximately 2,700 employees, or 5.7 percent, of its workforce. As a result, in 3Q17 the company recorded estimated charges with an EPS impact of $0.54. The estimated charges were recorded at the corporate level and not allocated to the segments; the estimated charges are excluded from Adjusted results. Payments under these programs are made upon termination during the early retirement or severance pay period, primarily starting as of the beginning of the first quarter of 2018. The company expects these amounts to be primarily paid within the next 12 months.
For earnings history and earnings-related data on Humana (HUM) click here.
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