Humana Q2 consolidated pretax income $636 millionStaff Writer | August 3, 2016
Humana reported diluted earnings per common share (EPS) for the quarter ended June 30, 2016. GAAP consolidated pretax income of $636 million was down $157 million, or 20 percent, compared to $793 million in 2Q 2015.
Humana Higher operating earnings in each of the segments
Higher segment operating earnings primarily reflected year-over-year increases across a number of the company’s businesses, particularly the individual Medicare Advantage and Healthcare Services businesses, which were partially offset by continuing challenges in the company’s individual commercial medical (Individual Commercial) business.
Adjusted consolidated pretax income for Q2 2016 of $682 million rose $132 million, or 24 percent, versus $550 million in 2Q 2015 primarily due to the same factors impacting the GAAP pretax income comparison, with the exception of the prior year Concentra gain, which was not included in Adjusted pretax income.
GAAP consolidated pretax income for 1H 2016 of $1.14 billion decreased $401 million, or 26 percent, from $1.54 billion in 1H 2015. Adjusted consolidated pretax income for 1H 2016 of $1.24 billion declined $82 million, or 6 percent, versus $1.32 billion in 1H 2015.
In each case, changes for pretax income for 1H 2016 versus 1H 2015 were primarily due to the same factors impacting the year-over-year comparison for Q2 2016 as well as the unfavorable effect of leap year seasonality. ■