Humana Inc. (HUM) earnings on July 29, 2026

HUM price around the earnings

365.41

Change: -6.0%

Start of the measured window End of the measured window

347.60 362.16 376.72 391.28 388.71

July 29, 2026

Price: green if it ends above the starting price; red if it ends below
Start of the measured window
End of the measured window
Market open
Starting price

Price series around the event

Prior thesis

Prior outlook: Pessimistic Outcome: Accurate

Thesis published: 2026-07-29, 09:59 UTC
Results released: 2026-07-29, 10:02 UTC

Strong beat rate but Trump Medicare subsidy termination for 2027 creates major headwind.

Context analyzed before publication

Trend: Consistent selloff into earnings, with trajectory collapsing, indicating significant expectations reset.

Analysts

Evidence

Analyst consensus: Buy
Consensus average (1-5): 2.5
Analysts covering the stock: 24
Average price target: 347.96
Lowest price target: 195
Highest price target: 502
Upside to price target: -10.5%
Quarterly earnings growth: -4.7%
Revenue growth: 23.5%
Forward EPS: 16.03
Trailing EPS: 9.56
Analyst moves in the last 60 days: 10

Strong buy: 1
Buy: 8
Hold: 15
Sell: 2
Strong sell: 0

Strong buy: 1
Buy: 8
Hold: 15
Sell: 2
Strong sell: 0

July 14, 2026 · TD Cowen: Maintains rating (Hold → Hold)
July 14, 2026 · Truist Securities: Maintains rating (Hold → Hold)
July 13, 2026 · Wells Fargo: Upgrades rating (Equal-Weight → Overweight)
July 9, 2026 · RBC Capital: Maintains rating (Sector Perform → Sector Perform)
July 7, 2026 · Cantor Fitzgerald: Maintains rating (Neutral → Neutral)
June 24, 2026 · B of A Securities: Maintains rating (Neutral → Neutral)
June 11, 2026 · Evercore ISI Group: Maintains rating (In-Line → In-Line)
June 8, 2026 · Mizuho: Maintains rating (Outperform → Outperform)
June 8, 2026 · JP Morgan: Maintains rating (Neutral → Neutral)
June 4, 2026 · B of A Securities: Maintains rating (Neutral → Neutral)

News and sentiment

Evidence

Sentiment

Sentiment: Constructive
Mention volume: Low
Normalized volume: 33%

News

Sources (3)

Humana Gears Up For Q2 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts (opens in a new tab) — Benzinga
TD Cowen Maintains Hold on Humana, Raises Price Target to $350 (opens in a new tab) — Benzinga
Truist Securities Maintains Hold on Humana, Raises Price Target to $415 (opens in a new tab) — Benzinga

Technicals

Evidence

Price when the context was analyzed: 388.7
Average true range (ATR): 3.4%
Distance to 52-week high: -6.9%
14-day change (14d): -4.4%
30-day change (32d): +1.3%
30-day relative strength: -0.3%
SPY change (32d): +1.6%
Nearest support: 384.99
Distance to nearest support: 1%
Nearest resistance: 391.59
Distance to nearest resistance: 0.7%
Volume accumulation ratio (14d / 46d): 0.81

Mid: 384.99 (1% away, 0.28 ATR, 14 touches)
Mid: 380.24 (2.2% away, 0.65 ATR, 23 touches)
Mid: 376.69 (3.1% away, 0.92 ATR, 12 touches)

Major: 391.59 (0.7% away, 0.22 ATR, 20 touches)
Mid: 394.58 (1.5% away, 0.45 ATR, 19 touches)
Mid: 397.3 (2.2% away, 0.66 ATR, 19 touches)

Trends

Evidence

Average earnings surprise: +5.8%

April 29, 2026: actual EPS 10.31 vs estimate 10.2 (surprise +1.1%)
February 11, 2026: actual EPS -3.96 vs estimate -3.99 (surprise +0.7%)
November 5, 2025: actual EPS 3.24 vs estimate 2.83 (surprise +14.6%)
July 29, 2025: actual EPS 6.27 vs estimate 5.87 (surprise +6.9%)

Expected move

Implied move: +8.0%
Source: Options chain

Reactions over its last 20 earnings

Median move: 3.3%
75th percentile move: 6.1%
90th percentile move: 10.6%
Up / down moves: 11 / 9
Average up move: +3.4%
Average down move: -5.9%

Monitoring and close

What Humana Inc. reported

Status: Finished

Actual EPS	7.61
EPS estimate	7.22
EPS surprise	+5.4%

Humana remains optimistic on long-term recovery despite cutting GAAP outlook. Ford rises on improved forecast; Caterpillar falls on concerns.

Sources (31)

Humana Inc. Q2 2026 Earnings Call Summary (opens in a new tab) — Moby
Humana Inc (HUM) Q2 2026 Earnings Call Highlights: Strategic Exits and Margin Expansion Plans (opens in a new tab) — GuruFocus.com
Humana Maintains Adjusted Earnings Outlook, Underwhelming Investors (opens in a new tab) — The Wall Street Journal
Humana's Strong Quarter Fails To Impress (opens in a new tab) — Benzinga
Humana Q2 Earnings Review: Management Tight-Lipped, But Recovery Still On Track (opens in a new tab) — SeekingAlpha
Humana Q2 Earnings Beat Estimates on Medical Membership Growth (opens in a new tab) — Zacks
S&P 500 Stocks: GEHC Revives, Humana Fades On Earnings (opens in a new tab) — Investor's Business Daily
Compared to Estimates, Humana (HUM) Q2 Earnings: A Look at Key Metrics (opens in a new tab) — Zacks
Humana Stock Stumbles After Earnings Underwhelm (opens in a new tab) — The Wall Street Journal
Humana (HUM) Stock Looks Fairly Valued Despite Its 70% Run (opens in a new tab) — Simply Wall St.
Humana Shares Fall Despite Second-Quarter Earnings Beat and Reaffirmed Outlook (opens in a new tab) — InvestorsHub
Humana (NYSE:HUM) Exceeds Q2 CY2026 Expectations (opens in a new tab) — StockStory
Humana (HUM) Q2 Earnings and Revenues Top Estimates (opens in a new tab) — Zacks
Humana (NYSE:HUM) Slumps After Q2 Beat as GAAP Guidance Cut Overshadows Strong Earnings (opens in a new tab) — ChartMill
Humana Inc. (HUM) Q2 2026 Earnings Call Transcript (opens in a new tab) — SeekingAlpha
Humana cuts 2026 profit outlook on lower Medicare star ratings (opens in a new tab) — Quartz
Humana Elects Paul Smith and Frederick Crawford to Board of Directors (opens in a new tab) — Yahoo
Humana falls despite beating second quarter estimates (opens in a new tab) — Investing.com
Humana Cuts Outlook Again on Lower Medicare Ratings (opens in a new tab) — The Wall Street Journal
Why Humana Stock Is Falling After Earnings Beat Expectations (opens in a new tab) — Barrons.com
Update: Humana Q2 Adj. EPS $7.61 Beats $7.22 Estimate, Sales $40.888B Beat $40.611B Estimate (opens in a new tab) — Benzinga
Humana FY2026 GAAP EPS expected to be more than $6.52 vs $8.55 Est (opens in a new tab) — Benzinga
Humana FY2026 expected to be more than $6.52 vs $8.55 Est (opens in a new tab) — Benzinga
Humana FY2026 Adj EPS expected to be more than $9.00 vs $8.94 Est (opens in a new tab) — Benzinga
Humana FY2026 expected to be more than $9.00 vs $8.94 Est (opens in a new tab) — Benzinga
Humana reported adjusted earnings of $7.61 per share, beating the $7.22 estimate. — Benzinga
Humana Q2 Adj. EPS $7.61 Beats $7.22 Estimate (opens in a new tab) — Benzinga
Humana Reports Second Quarter 2026 Financial Results; Affirms Full Year 2026 Adjusted Financial Guidance (opens in a new tab) — Yahoo
Humana tops quarterly estimates, maintains profit outlook as medical costs stay in line (opens in a new tab) — CNBC
Humana (HUM) Could Be 83% Overvalued On Medicare Advantage Study And Earnings Focus (opens in a new tab) — Simply Wall St.
Tech Earnings, Fed Meeting: What to Watch the Rest of the Week (opens in a new tab) — The Wall Street Journal

Pre-market second reading after the results

Verdict: Beat expectations

Heading into the open, the figures confirm the pessimistic scenario. In the 421 past cases with a similar move, the close held that direction 94% of the time.

How the stock reacted

Outcome: Accurate
Consolidated: -6.0%
Max favorable move (MFE): 11.2%
Max adverse move (MAE): 1.6%