Company: HUM
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000049071-25-000042
Chunk: 23

Company: HUMANA INC
Filing Date: 2025-07-30
Form: 10-Q
Item: Item 2
Chunk 23
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 ended June 30, 2025 vs 20242025202420252024$%$%($ in millions)Revenues:Services:Home solutions$360$335$695$670$257.5%$253.7%Pharmacy solutions3212295994409240.2%15936.1%Primary care51332298256319159.3%41974.4%Total external revenues1,1948862,2761,67330834.8%60336.0%Intersegment revenues:Home solutions5634991,0609846412.8%767.7%Pharmacy solutions2,8142,6455,3805,2621696.4%1182.2%Primary care9669171,9161,846495.3%703.8%Intersegment revenues4,3434,0618,3568,0922826.9%2643.3%Total revenues$5,537$4,947$10,632$9,765$59011.9%$8678.9%Income from operations$344$338$736$620$61.8%$11618.7%Operating cost ratio92.7%92.0%92.0%92.5%0.7%(0.5)%

Income from operations

CenterWell income from operations increased $6 million, or 1.8%, from $338 million in the 2024 quarter to $344 million in the 2025 quarter and increased $116 million, or 18.7%, from $620 million in the 2024 period to $736 million in the 2025 period primarily due to the same factors impacting the CenterWell segment's operating cost ratio as more fully described below. 

Services Revenue

CenterWell services revenue increased $0.3 billion, or 34.8%, from $0.9 billion in the 2024 quarter to $1.2 billion in the 2025 quarter and increased $0.6 billion, or 36.0%, from $1.7 billion in the 2024 period to $2.3 billion in the 2025 period primarily due to higher revenues associated with growth in the primary care and pharmacy solutions businesses, partially offset by the impact of the v28 risk model revision. 

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Intersegment Revenue

CenterWell intersegment revenues increased $0.3 billion, or 6.9%, from $4