n e w s r e l e a s e Exhibit 99.2 Humana Inc. 500 West Main Street P.O. Box 1438 Louisville, KY 40202 http://www.humana.com FOR MORE INFORMATION CONTACT: Lisa Stoner Humana Investor Relations (502) 580-2652 e-mail: LStamper@humana.com Mark Taylor Humana Corporate Communications (317) 753-0345 e-mail: MTaylor108@humana.com Humana Reports Third Quarter 2025 Financial Results; Affirms Full Year 2025 Adjusted EPS Guidance LOUISVILLE, KY (November 5, 2025) – Humana Inc. (NYSE: HUM) today reported consolidated p ...

LOUISVILLE, Ky.--(BUSINESS WIRE)--Humana Inc. (NYSE: HUM) today reported consolidated pretax results and diluted earnings per share (EPS) for the quarter ended September 30, 2025 (3Q25) versus the quarter ended September 30, 2024 (3Q24) and for the nine months ended September 30, 2025 (YTD 2025) versus the nine months ended September 30, 2024 (YTD 2024) as noted in the tables below. Consolidated income before income taxes and equity in net losses (pretax results) in millions 3Q25 (a) 3Q24 (a) Y. ...

Earnings Results - Humana Inc. is set to release its third-quarter earnings results on November 5, with expected earnings of $2.82 per share, a decrease from $4.16 per share in the same period last year [1] - The consensus estimate for Humana's quarterly revenue is $32.01 billion, up from $29.4 billion a year earlier [1] Dividend Announcement - On October 28, Humana declared a cash dividend of 88.5 cents per share to stockholders [2] - Following the announcement, Humana's shares rose by 0.7%, closing at $281.87 [2] Analyst Ratings and Price Targets - B of A Securities maintained a Neutral rating and raised the price target from $280 to $300 [4] - Mizuho maintained an Outperform rating and increased the price target from $300 to $345 [4] - Barclays maintained an Equal-Weight rating and cut the price target from $315 to $245 [4] - RBC Capital maintained an Outperform rating and raised the price target from $283 to $322 [4] - Argus Research reiterated a Hold rating with a price target of $281.99 [4]

Group 1 - Wall Street anticipates McDonald's Corp. to report quarterly earnings of $3.33 per share with revenue of $7.09 billion [2] - Pinterest Inc. reported third-quarter revenue of $1.05 billion, meeting analysts' estimates, but adjusted earnings of 38 cents per share fell short of the expected 42 cents, leading to a 20.1% drop in shares to $26.30 [2] - Qualcomm Inc. is expected to post quarterly earnings of $2.87 per share on revenue of $10.77 billion, with earnings release scheduled after market close [2] - Advanced Micro Devices Inc. reported better-than-expected financial results for the third quarter and anticipates fourth-quarter revenue of approximately $9.6 billion, exceeding analysts' expectations of $9.15 billion, although shares fell 4.7% to $238.20 [2] - Humana Inc. is expected to report quarterly earnings of $2.82 per share on revenue of $32.01 billion [2]

Core Viewpoint - Humana (HUM) shares have recently declined by 5.2% over the past four weeks, but the formation of a hammer chart pattern suggests potential support and a possible trend reversal in the future [1][2]. Technical Analysis - The hammer chart pattern indicates a potential bottoming out, suggesting that selling pressure may be exhausting. This pattern is characterized by a small candle body and a long lower wick, indicating that buyers are starting to emerge after a downtrend [4][5]. - The occurrence of a hammer pattern at the bottom of a downtrend signals that bears may be losing control, which could lead to a trend reversal [5]. Fundamental Analysis - There has been a positive trend in earnings estimate revisions for Humana, which is a bullish indicator. Over the last 30 days, the consensus EPS estimate for the current year has increased by 0.3%, indicating that analysts expect better earnings than previously predicted [7][8]. - Humana currently holds a Zacks Rank of 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks. Stocks with a Zacks Rank of 1 or 2 typically outperform the market, further supporting the potential for a trend reversal [9][10].

Wall Street analysts expect Humana (HUM) to post quarterly earnings of $2.91 per share in its upcoming report, which indicates a year-over-year decline of 30.1%. Revenues are expected to be $31.98 billion, up 9.1% from the year-ago quarter.The current level reflects a downward revision of 2.3% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.Prior to a company's ...

Core Insights - CarePlus has announced its Medicare Advantage plan offerings for the year 2026, indicating a strategic move to enhance its product portfolio in the healthcare sector [1] Group 1 - The announcement reflects CarePlus's commitment to expanding its services and catering to the needs of Medicare beneficiaries [1] - The new plan offerings are expected to provide enhanced benefits and options for members, aligning with industry trends towards more comprehensive healthcare solutions [1] - This initiative may position CarePlus favorably in a competitive market, as it seeks to attract more enrollees through improved plan features [1]

Core Insights - UnitedHealth Group Incorporated (UNH) and Humana Inc. (HUM) are leading players in the health insurance sector, particularly in Medicare Advantage (MA) and pharmacy benefit management, which are crucial as the U.S. population ages [1][2] - Investors are closely monitoring both companies due to demographic trends, utilization shifts, and policy reforms affecting the industry [2][3] UnitedHealth Overview - UnitedHealth has a market capitalization of $330.1 billion and operates through UnitedHealthcare and Optum, providing a diversified business model that offers stability [4] - In the latest quarter, UnitedHealth reported revenues of $111.6 billion, a 12.9% increase year-over-year, driven by domestic commercial membership growth and Optum Rx performance [5] - The company's medical care ratio increased to 89.4%, up from 85.1% a year earlier, indicating rising medical costs impacting margins [5][6] - Optum generated $67.2 billion in revenues, up 6.9% year-over-year, but faces near-term challenges in its Optum Health unit [6] - UnitedHealth's long-term debt-to-capital ratio is 43.7%, slightly higher than Humana's 40.8%, indicating higher leverage [7] Humana Overview - Humana, with a market cap of $34.2 billion, specializes in Medicare Advantage and has shown signs of stabilization, with its benefit ratio improving to 88.7% in the first half of 2025 [8] - The company reported adjusted revenues of $32.4 billion, a 10.2% increase year-over-year, supported by state-based contracts and CenterWell performance [9] - Humana's focus on value-based care and operational efficiency is yielding positive results, with expanding CenterWell primary care centers enhancing profitability [11][12] Comparative Analysis - UnitedHealth's diversification provides stability, but it faces margin pressures from rising medical costs, while Humana's improved benefit ratio and growth in CenterWell indicate stronger cost control [10] - Humana trades at a forward P/E of 20.81X, below UnitedHealth's 21.29X, suggesting a relative discount despite a stronger projected rebound in 2025 [15] - Year-to-date, Humana's shares have gained 16.4%, contrasting with UnitedHealth's 27.8% decline, indicating improving investor confidence in Humana's turnaround efforts [17][18] Conclusion - UnitedHealth remains the most diversified player in the industry, but faces challenges from regulatory scrutiny and margin pressures [19] - Humana is regaining momentum through disciplined cost control and a focused strategy on Medicare Advantage, positioning it favorably for future growth [20][21]

Core Insights - Humana Inc. (NYSE: HUM) has experienced a significant stock rally, with a five-day winning streak resulting in a cumulative gain of 13%, adding approximately $4.0 billion in market value [2] - The current market capitalization of Humana is around $36 billion, and the stock is 17.6% above its value at the end of 2024, outperforming the S&P 500's year-to-date return of 14.5% [2] - The recent surge in Humana's stock price is attributed to strategic partnerships, including one with Providence Health System for data exchange and a continuation of co-branded Medicare Advantage plans with USAA featuring $0 copays for mental health services in 2026 [2] Stock Performance Analysis - The performance of HUM stock has been compared to the S&P 500 index, indicating a positive momentum that may signal growing investor confidence [5] - There are currently 191 S&P constituents with three or more consecutive days of gains, highlighting a broader trend in the market [6] Investment Considerations - While HUM stock appears attractive due to its recent performance, investing in a single stock carries inherent risks, and a diversified approach is recommended [4][7] - The Trefis High Quality Portfolio, in collaboration with Empirical Asset Management, aims to provide better returns with less risk compared to the benchmark index, particularly during market downturns [4][7]

Core Insights - Humana Inc. is valued at a market cap of $34.2 billion and focuses on managed care services through health insurance offerings [1] - The company is set to announce its fiscal Q3 earnings for 2025 on November 5, 2025 [1] Financial Performance - Analysts expect Humana to report a profit of $2.91 per share for Q3 2025, a decrease of 30.1% from $4.16 per share in the same quarter last year [2] - For fiscal 2025, the expected profit is $17.07 per share, reflecting a 5.3% increase from $16.21 per share in fiscal 2024, but a decline of 20.9% year-over-year to $13.51 in fiscal 2026 [3] Stock Performance - Over the past 52 weeks, Humana's shares have increased by 13.3%, underperforming the S&P 500 Index's return of 15.1% but outperforming the Health Care Select Sector SPDR Fund's decline of 4.1% [4] - Following a strategic collaboration announcement with Providence, Humana's shares surged by 3.3% and then by another 3.9% in the subsequent trading session [5] Analyst Ratings - Wall Street analysts have a "Moderate Buy" rating for Humana, with 26 analysts covering the stock: six recommend "Strong Buy," two "Moderate Buy," 17 "Hold," and one "Strong Sell" [6] - The current trading price is above the mean price target of $292.42, with a Street-high price target of $347 indicating a potential 17.5% premium [6]