Humana Inc. (NYSE: HUM) posted its results for the fourth quarter ended December 31, 2017 before the market opened on Wednesday. Shares of the company dropped around 1% to $266.13 per share in morning trading today.
According to the company, revenue for the quarter increased 2.4% to $13.19 billion. Retail revenue was up 3% to $10.95 billion, and revenue of the group and specialty division increased to $1.89 billion. However, revenue of health-care services dropped 5.8% to $6.02 billion, and revenue of individual commercial part was down 27% to $194 million.
Additionally, compared with a loss of $401 million, or $2.68 per share, for the same period last year, the company reported earnings of $184 million, or $1.29 per share, for the fourth quarter. Excluding certain items, adjusted earnings per share dropped from $2.34 per share to $2.06 per share, but also beating estimates of $2.00 per share.
“We continue to make strong progress in advancing our integrated care strategy, especially in deepening our clinical capabilities through long-term platform investments in the home and primary care. And our focus on and commitment to improving the member experience continue to pay off as we this year saw significant improvement in our Stars results as well as our Net Promoter Scores which increased by 500 basis points,” Bruce D. Broussard, the President and Chief Executive Officer of Humana, said in the statement on Wednesday.
“It’s through the combination of all our efforts – from optimizing our infrastructure and operations to making critical investments in consumer and clinical capabilities – that we’ve been able to achieve strong short-term results while creating longer-term sustainability,” he said.