Filing Flows › Humana (HUM) › Q1 2026
Humana (HUM) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 29, 2026
Humana (HUM) reported revenue of $39.6B for the first quarter 2026 (Q1 2026), +23% from a year earlier and +22% from the quarter before. Operating margin was 4.4%, net earnings $1.2B (3.0% of revenue).
Humana, Q1 2026: revenue $39.6B (+24% year over year), operating margin 4.4%, net earnings $1.2B, operating cash flow $1.3B. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $39.6B | +22% | +23% |
| Operating profit | $1.8B | — | -13% |
| Net earnings | $1.2B | — | -5% |
| Operating cash flow | $1.3B | — | +279% |
| Free cash flow | $1.1B | — | +380% |
What changed
Revenue was $39.6B in Q1 2026, up 23% year over year and up 22% from the previous quarter.
Operating profit was $1.8B, a 4.4% margin (down 1.8 points year over year). Operating profit fell $0.26B even though revenue rose $7.5B versus Q1 2025, so costs grew faster than sales. Total costs grew 26% against revenue growth of 23%. The fastest-growing cost line was Other operating costs (+27%). Net earnings were $1.2B, down 5% year over year. The effective tax rate was 25.0%.
Operating cash flow was $1.3B (up 279% year over year), 106% of net earnings. Non-cash charges added back $0.16B of depreciation and amortization and $0.05B of share-based compensation. Working capital and other items used $0.14B. Capital expenditures of $0.12B left free cash flow of $1.1B.
Questions
What was Humana's revenue in the first quarter 2026?
Humana (HUM) reported revenue of $39.6B for the first quarter 2026 (Q1 2026), +23% from a year earlier and +22% from the quarter before.
Was Humana profitable in the first quarter 2026?
Operating profit was $1.8B (4.4% of revenue) and net earnings $1.2B.
Source: Humana 10-Q on SEC EDGAR.