Filing Flows › Humana (HUM) › Q2 2025
Humana (HUM) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 30, 2025
Humana (HUM) reported revenue of $32.4B for the second quarter 2025 (Q2 2025), +10% from a year earlier and +0.9% from the quarter before. Operating margin was 3.4%, net earnings $543M (1.7% of revenue).
Humana, Q2 2025: revenue $32.4B (+10% year over year), operating margin 3.4%, net earnings $543M, operating cash flow $1.3B. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $32.4B | +0.9% | +10% |
| Operating profit | $1.1B | -45% | -4% |
| Net earnings | $543M | -56% | -20% |
| Operating cash flow | $1.3B | +284% | +5% |
| Free cash flow | $1.2B | +390% | +5% |
What changed
Revenue was $32.4B in Q2 2025, up 10% year over year and up 1% from the previous quarter.
Operating profit was $1.1B, a 3.4% margin (down 0.5 points year over year). Operating profit fell $0.04B even though revenue rose $2.8B versus a year earlier, so costs grew faster than sales. Total costs grew 10% against revenue growth of 10%. The fastest-growing cost line was SG&A (+13%). Net earnings were $0.55B, down 20% year over year. The effective tax rate was 24.8%.
Operating cash flow was $1.3B (up 5% year over year), 234% of net earnings. Non-cash charges added back $0.18B of depreciation and amortization and $0.06B of share-based compensation. Working capital and other items added $0.49B. Capital expenditures of $0.11B left free cash flow of $1.2B.
Questions
What was Humana's revenue in the second quarter 2025?
Humana (HUM) reported revenue of $32.4B for the second quarter 2025 (Q2 2025), +10% from a year earlier and +0.9% from the quarter before.
Was Humana profitable in the second quarter 2025?
Operating profit was $1.1B (3.4% of revenue) and net earnings $543M.
Source: Humana 10-Q on SEC EDGAR.