Earnings call analysis

Humana (HUM) Q3 2026 Earnings Call: Guidance and Outlook

The company provided an updated full-year 2026 adjusted EPS outlook and offered specific trend expectations for 2027. No formal quarterly guidance was provided.

About Humana. , a prominent health and well-being enterprise, operates across the United States through its various subsidiary companies. Its operational structure is divided into three main segments: Retail, Group and Specialty, and Healthcare Services. The firm provides a wide array of medical and supplementary insurance plans directly to individual consumers.

Call date

Nov 6, 2026

Sentiment score

+45 Positive

Management tone, -100 to +100

Sentiment change

+20

vs Q2 2026 call

Sector

Health Care, Health Care Providers and Services

Next report

Feb 10, 2027

View calendar

Quarterly guidance

Quarterly guidance: No quarterly guidance was given.

Annual guidance

Full year 2026 adjusted EPS: At least $9.50, increased from at least $9.
2027 core medical cost trend: 8% to 9% range.
2027 Part D trend: 14% to 15% increase.

Outlook

2027 Membership: Management anticipates that membership will be up for 2027.
Stars Performance: Expects to maintain top quartile results for BY 2029.
2028 Stars Tailwind: Anticipates a one-time tailwind in 2028, which will be used for investments and shareholder returns.
Balance Sheet: Expects a 130 basis point reduction in GAAP debt-to-cap ratio in Q4 following the BlackRock JV.
Medicaid: Footprint spans 13 states with implementations pending in Georgia and Texas.
CenterWell: Expects to offset PCO cost pressures with contracting changes and network management.

Sources and method

Dombey's summary of the Humana Q3 2026 earnings call held Nov 6, 2026, written from the call itself. Every figure on this page was checked against what was said on the call, and quoted lines are management's own words; we do not add estimates or prices. The tone score is our read of management's wording, guidance and answers. Check figures against the company's SEC filings before acting. This is research, not investment advice.

Updated Nov 9, 2026. All earnings call analyses

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