Humana (HUM - Get Report) posted stronger-than-expected fourth-quarter earnings Wednesday and said it would update shareholders next week on its 2017 outlook after the collapse of its $37 billion merger with Aetna (AET) .
Adjusted earnings for the three months ended in December were $2.09 a share, up 35.7% from the same period in 2015 and firmly ahead of analysts' forecasts of $2.04. Revenue for the period fell 4% to $12.88 billion, the company said.
"We are proud of our strong 2016 operating results, particularly given the complex operating environment during the extended transaction process," said CEO Bruce Broussard. "These results and the current strength of the company are the result of deep clinical engagement with our members, tireless work to simplify the member experience, our partnership with providers and the dedication of our more than 50,000 associates."
The company said it would provide full-year 2017 earnings guidance no later than Feb. 16 in order to "allow Humana to fully evaluate the Court's decision and any related impact on its expected results for 2017."
Last month, Aetna said it was considering its legal options after a federal court blocked its $37 billion takeover of Humana.
Aetna's attempt to buy Humana was blocked by a federal judge in January on the grounds that it would likely "substantially lessen competition in markets for individual Medical Advantage plans and health insurance sold on the public exchanges." Aetna hasn't said whether it will appeal, and discussions of further plans for M&A will likely also be on tap for the company's post-earnings conference call.
Humana shares closed at $195.24 on Tuesday, down 0.63%, trimming their three-month gain to 11.62%.