United Health (UNH.US) results beat analysts' expectations
United Health (UNH.US), the leading U.S. healthcare and insurance company, reported results that significantly beat analysts' expectations. Treatment costs were lower than expected, easing concerns about the high cost of Medicare Advantage in June due to an increase in planned outpatient surgeries. Results:
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Open account Try demo Download mobile app Download mobile app- Revenue: $92.36 billion vs. $91.4 billion expected (14.2% year-over-year growth)
- Earnings per share (EPS): $6.56 vs. $6.33 expected (13.3% year-over-year growth, breaking a three-quarter streak of declining net income)
The company added 55,000 new members to its Medicare Advantage program, while the number of people served under Medicaid fell by 290,000. The number of customers in the U.S. domestic market increased by 75,000. Revenues for the Optum Health division increased 22% to $56.7 billion, driven by the acquisition of Change Healthcare. Revenue per patient served at Optum increased 27% in the third quarter. The company raised its earnings per share guidance for the full year 2023 to a range of $24.85-$25 from $24.70-$25 previously (according to FactSet data, the EPS consensus was $24.83). Jefferies analysts said that the decline in costs should further limit market concerns in the current quarter. The company reported higher customer numbers and expanded its service offerings:
Source: xStation5
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