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Humana 8-K Report, Regulation FD Disclosure (Sep 3, 2024)

Reports
Regulation FD
Filing Date
Filed September 3, 2024
Period End
September 3, 2024
Security
HUM
In the record · 2016–202610-K1110-Q328-K199

HUM filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 199 current reports (8-K) between 2016 and 2026.

  1. Deal closed8-K · Aug ’18Aug ’18
  2. Material agreement8-K · Mar ’20Mar ’20
  3. Leadership change8-K · Sep ’22Sep ’22
  4. Leadership change8-K · Jul ’26Jul ’26

01—Abstract

Summary

Summary of the 8-K filed September 3, 2024. Cited figures are marked; the original filing is the authoritative source.

Humana Inc. filed a Regulation FD disclosure on September 3, 2024 stating that members of its senior management team are scheduled to meet with investors and analysts at industry conferences and other meetings between September 3 and September 30, 2024.

During these meetings, the company intends to reaffirm its fiscal 2024 guidance of approximately $12.81a in diluted earnings per common share (EPS) and approximately $16.00 in adjusted EPS. The company states this guidance is consistent with the guidance issued in its July 31, 2024 press release. The filing includes a reconciliation of GAAP diluted EPS to adjusted EPS for fiscal 2024.

The adjustments are amortization of identifiable intangibles ($0.50b), put/call valuation adjustments associated with non-consolidating minority interest investments ($1.65), the impact of the exit of the employer group commercial medical products business ($1.21), value creation initiatives ($0.80), and a cumulative net tax impact of non-GAAP adjustments of $(0.97). Management says it uses adjusted EPS for planning, decision-making, and determining incentive compensation, and that it should be considered in addition to, not as a substitute for, GAAP EPS.

For investors, the filing is primarily a reaffirmation of previously issued guidance rather than new financial information. Dates and times for the investor presentations are listed on the Investor Relations calendar of events at www.humana.com.

02—Key points

Key Highlights

  1. Humana management will meet with investors and analysts at industry conferences and other meetings from September 3 to September 30, 2024.
  2. The company intends to reaffirm FY 2024 diluted EPS guidance of approximately $12.81.
  3. The company intends to reaffirm FY 2024 adjusted EPS guidance of approximately $16.00.
  4. The guidance is consistent with the outlook issued in Humana's July 31, 2024 press release.
  5. Adjusted EPS adds back amortization of identifiable intangibles ($0.50), put/call valuation adjustments ($1.65), exit of the employer group commercial medical products business ($1.21), and value creation initiatives ($0.80), net of a $(0.97) cumulative tax impact.
  6. The filing is furnished under Item 7.01 (Regulation FD Disclosure), and the adjusted EPS measure is a non-GAAP financial measure reconciled to GAAP diluted EPS.

03—Questions

Frequently Asked Questions

  1. Is Humana changing its 2024 earnings guidance in this filing?

    No. The filing states that the company intends to reaffirm its FY 2024 guidance of approximately $12.81 in diluted EPS and approximately $16.00 in adjusted EPS. This guidance is consistent with the outlook in the July 31, 2024 press release.

  2. What is the difference between GAAP EPS and adjusted EPS in this guidance?

    The filing reconciles the two measures. Starting from approximately $12.81 in GAAP diluted EPS, the company adds amortization of identifiable intangibles ($0.50), put/call valuation adjustments associated with non-consolidating minority interest investments ($1.65), the impact of exiting the employer group commercial medical products business ($1.21), and value creation initiatives ($0.80), then subtracts a cumulative net tax impact of $(0.97), arriving at approximately $16.00 in adjusted EPS.

  3. Why does Humana use adjusted EPS?

    Management states that adjusted EPS, presented alongside GAAP EPS, helps compare and analyze core operating performance over time. The company also uses it as a consistent indicator of core business operations across periods, for planning and decision-making, and in determining incentive compensation. The company notes it should be considered in addition to, not as a substitute for, GAAP EPS.

  4. When and where can investors find details of Humana's presentations?

    The filing states that the dates and times of presentations to investors are available through the Investor Relations calendar of events on Humana's website at www.humana.com. The meetings are scheduled between September 3, 2024 and September 30, 2024.

04—Continue

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