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Humana Reports Q2 Results

Diluted earnings per common share of $1.67

Humana, a US-based health and supplemental benefits company, has reported diluted earnings per common share (EPS) of $1.67, for the second quarter ended June 30, 2009 .

The company earned $1.24 per share for the second quarter ended June 30, 2008, which reflected high stand-alone Prescription Drug Plan (PDP) claim expenses.

For the six months ended June 30, 2009, the company reported $2.89 in EPS as compared to $1.71 for the six months ended June 30, 2008, also reflecting a reduction in stand-alone PDP claim expenses year over year.

In July 2009, the company was notified that it was not awarded the third generation TRICARE contract for the South Region. Humana has filed a related protest with the Government Accountability Office. The company expects non-GAAP(a) EPS for the year ending December 31, 2009 in the range of $6.10 to $6.20(b), which excludes any potential accounting charges and other costs associated with the military contract loss.

Revenues for second quarter 2009 consolidated rose 7% to $7.9 billion from $7.35 billion in 2008, with total premium and administrative services fees up 8% compared to the prior year’s quarter.