Humana Lifts Guidance as Profit Rises 35%

LOUISVILLE, Kentucky ( TheStreet) -- Humana ( HUM), the health insurer, said Monday second-quarter earnings rose 35% and it raised its guidance for 2011.

Humana earned $460.3 million, or $2.71 a share, in the second quarter. A year earlier, the company earned $340.1 million, or $2 a share.

Adjusted income in the quarter was $2.50 a share. Revenue in the quarter rose 8% to $9.28 billion, with total premiums and services revenue also up 8%.

Analysts surveyed by Thomson Reuters expected Humana to earn $2.06 a share in the second quarter on revenue of $9.35 billion.

Humana said it raised its 2011 earnings forecast to a range of $7.50 to $7.60 a share, up from a previous estimate $6.70 to $6.90 a share.

Humana said individual Medicare Advantage membership was 1,602,500 at June 30, an increase of 10% from a year earlier.

-- Written by Joseph Woelfel

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