CVS, Humana Report Continued High Utilization, MLR Increases

  • Aug 04, 2023

    CVS Health Corp. beat Wall Street’s consensus second-quarter earnings projections, but it raised concerns among analysts by lowering its earnings guidance for 2024. Humana Inc., meanwhile, also beat the Street’s second-quarter earnings estimate. Both firms reported that this year’s high utilization levels in Medicare Advantage — a source of consternation for investors — persisted. 

    Overall, CVS took in $88.9 billion in the second quarter, up $8.2 billion year over year. However, its quarterly, year-over-year operating income decreased by $521 million to $4.48 billion; adjusted earnings per share (EPS) amounted to $2.21, down from the second quarter of 2022’s $2.53. CVS confirmed its full-year EPS guidance of $8.50 to $8.70. 

    Read more
    © 2024 MMIT
  • Peter Johnson

    Peter has worked as a journalist since 2011 and has covered health care since 2020. At AIS Health, Peter covers trends in finance, business and policy that affect the health insurance and pharma sectors. For Health Plan Weekly, he covers all aspects of the U.S. health insurance sector, including employer-sponsored insurance, Medicaid managed care, Medicare Advantage and the Affordable Care Act individual marketplaces. In Radar on Drug Benefits, Peter covers the operations of (and conflicts between) pharmacy benefit managers and pharmaceutical manufacturers, with a particular focus on pricing dynamics and market access. Before joining AIS Health, Peter covered transportation, public safety and local government for various outlets in Seattle, his hometown and current place of residence. He graduated with a B.A. from Colby College.

The Latest
Meet Our Reporters

Meet Our Reporters

×
×