Earnings summaries and quarterly performance for UNITEDHEALTH GROUP.
Executive leadership at UNITEDHEALTH GROUP.
Board of directors at UNITEDHEALTH GROUP.
Research analysts who have asked questions during UNITEDHEALTH GROUP earnings calls.
Justin Lake
Wolfe Research, LLC
7 questions for UNH
Also covers: AGL, CI, CNC +8 more
Lance Wilkes
Sanford C. Bernstein & Co., LLC
7 questions for UNH
Also covers: AGL, CI, CNC +4 more
Lisa Gill
JPMorgan Chase & Co.
7 questions for UNH
Also covers: AGL, CAH, CI +13 more
Andrew Mok
Barclays
5 questions for UNH
Also covers: ACHC, ADUS, AGL +21 more
Joshua Raskin
Nephron Research
5 questions for UNH
Also covers: AIRS, BKD, CI +13 more
Scott Fidel
Stephens Inc.
5 questions for UNH
Also covers: ACHC, ADUS, ALHC +17 more
Albert Rice
UBS
4 questions for UNH
Also covers: ACHC, AMED, AMN +20 more
Erin Wright
Morgan Stanley
4 questions for UNH
Also covers: ALGN, BTSG, CAH +18 more
Sarah James
Cantor Fitzgerald
4 questions for UNH
Also covers: ACHC, AMED, CI +15 more
Stephen Baxter
Wells Fargo & Company
4 questions for UNH
Also covers: AGL, BTSG, CAH +15 more
A.J. Rice
UBS
3 questions for UNH
Also covers: BTSG, CYH, EHC +3 more
Ann Hynes
Mizuho Financial Group
3 questions for UNH
Also covers: ARDT, BTSG, CI +17 more
David Windley
Jefferies Financial Group Inc.
3 questions for UNH
Also covers: CERT, CNC, CRL +14 more
Jessica Tassan
Piper Sandler
3 questions for UNH
Also covers: ACCD, ALHC, AMWL +11 more
Joanna Gajuk
Bank of America
3 questions for UNH
Also covers: ACHC, ADUS, AGL +21 more
Kevin Fischbeck
Bank of America
3 questions for UNH
Also covers: AMN, ARDT, CCRN +9 more
Stephen Baxter
Wells Fargo
3 questions for UNH
Also covers: BTSG, CNC, CVS +6 more
Dave Windley
Jefferies LLC
2 questions for UNH
Also covers: CERT, CNC, ELV +7 more
George Hill
Deutsche Bank
2 questions for UNH
Also covers: AGL, CAH, CI +16 more
Josh Raskin
Nathron Research
2 questions for UNH
Also covers: CNC, MOH, PIII +1 more
Whit Mayo
Leerink Partners
2 questions for UNH
Also covers: ACHC, AHCO, ALHC +11 more
Benjamin Hendrix
RBC Capital Markets
1 question for UNH
Also covers: ACHC, ADUS, AHCO +25 more
Matthew Gillmor
KeyCorp
1 question for UNH
Also covers: ACHC, ADUS, ALHC +11 more
Recent press releases and 8-K filings for UNH.
UnitedHealth Group sells last South American unit Banmedica for $1B
UNH
M&A
Guidance Update
- UnitedHealth Group completed the sale of its last South American business, Banmedica, to Patria Investment for $1 billion, marking its full exit from the Latin American market.
- Banmedica serves 1.7 million health plan members across seven hospitals and 47 medical centers in Colombia and Chile.
- UnitedHealth recorded a $8.3 billion loss last year tied to its South American operations exit and holds a market capitalization of approximately $298.7 billion.
- The divestment is part of CEO Stephen Hemsley’s strategy to stabilize UnitedHealth, with management targeting a return to growth in 2026 and acceleration in 2027.
Nov 30, 2025, 6:27 PM
UnitedHealth Group appoints former FDA commissioner to board
UNH
Board Change
Hiring
- Dr. Scott Gottlieb, former FDA commissioner (2017–2019), joins UnitedHealth Group’s board effective November 18, 2025
- Gottlieb brings expertise in health policy, patient safety and pharmaceutical markets to support the company’s integrated healthcare strategy
- Appointment is part of a leadership overhaul amid a 36% stock price decline and follows the hiring of new CFO Wayne DeVeydt
- CEO Stephen J. Hemsley highlights Gottlieb’s role in advancing a technology-supported, integrated healthcare approach to bolster investor confidence
Nov 18, 2025, 12:53 PM
UnitedHealth Group reports Q3 2025 results
UNH
Earnings
Guidance Update
- Adjusted EPS of $2.92 on $113 billion revenue (+12% YoY); ended Q3 with >50 million domestic lives (YTD +780k) and 89.9% medical care ratio, 13.5% operating cost ratio, generating $5.9 billion cash flow; debt-to-capital at 44.1% after $3.4 billion Amedisys deal.
- Paused share buybacks and M&A, targeting debt-to-capital ~40% by H2 2026; anticipate reinstating capital returns later next year.
- UnitedHealthcare repriced risk businesses for 2026 margin growth, foresees ~1 million MA membership contraction to boost margins; Medicare margins breakeven in 2025, expected to decline further in 2026 absent funding changes.
- Optum Health refocusing on value-based care, narrowing networks and exiting ~200k PPO lives, aiming for just under 3% margin in 2025, with improvement in 2026 and targets of 6–8% by 2027; Optum Insight and Rx emphasize AI-first platforms and double-digit pharmacy growth.
- Announced low single-digit billion non-GAAP, largely non-cash charge for international and restructuring actions; full 2026 guidance to be provided with Q4 results in January.
Oct 28, 2025, 12:00 PM
UnitedHealth Group outlines Q3 2025 performance and 2026 outlook
UNH
Earnings
Guidance Update
New Projects/Investments
- UnitedHealth Group announced leadership and operational improvements, including repricing actions aimed at driving margin growth in 2026 and returning to double-digit earnings growth from 2027.
- UnitedHealthcare repriced most risk businesses, forecasting full-year 2025 Medicare Advantage medical cost trend of 7.5% and adopting a 10% trend assumption for 2026, with an expected 1 million member contraction in Medicare Advantage.
- Optum Health is refocusing on value-based care by narrowing networks and exiting 200 000 PPO lives, anticipating approximately 10% membership decline in 2026 before growth resumes.
- Optum Health’s margins are projected at just under 3% for 2025 with improvement in 2026; Optum Rx delivered double-digit revenue growth and has 85% of customers on full rebate pass-through arrangements.
- The CFO highlighted a $6 billion V28 headwind, accelerated investments in AI, Optum Health and Optum Insight, a return to normalized tax rates in 2026, debt reduction, and repricing tailwinds to support earnings recovery.
Oct 28, 2025, 12:00 PM
UnitedHealth Group reports Q3 2025 results and provides 2026 outlook
UNH
Earnings
Guidance Update
Product Launch
- UnitedHealth delivered Q3 adj. EPS of $2.92 and $113 B in revenue (+12% YoY), with a medical care ratio of 89.9% and investments of $450 M in employee incentives and philanthropy.
- UnitedHealthcare repriced most risk businesses for 2026, projects a Medicare Advantage medical cost trend of ~10%, expects ~1 M MA membership contraction, and aims for margin recovery by 2027.
- Optum Health is refocusing on value-based care, narrowing provider networks, exiting ~200 K lives, anticipating ~10% membership decline in 2026, and targeting long-term margins of 6–8%.
- CFO Wayne DeVeydt plans to reduce the debt-to-capital ratio to ~40% by H2 2026, pause share buybacks until then, and expects 2025 operating cash flow of ~$16 B, with formal 2026 guidance in January.
Oct 28, 2025, 12:00 PM
UnitedHealth Group raises 2025 profit forecast after Q3 beat
UNH
Earnings
Guidance Update
- Adjusted EPS of $2.92 in Q3 exceeded analyst estimates, signaling improved cost controls and a turnaround after prior challenges.
- Raised full-year 2025 adjusted EPS guidance to at least $16.25, above Wall Street expectations.
- Q3 net income fell to $2.35 billion from $6.05 billion a year ago due to higher costs in government-subsidized programs.
- Optum Rx revenue grew 16% to $39.7 billion, while Optum health services revenue was flat at $25.9 billion.
- Medical loss ratio remained at 89.9%, in line with forecasts, highlighting improved cost discipline but above target levels.
Oct 28, 2025, 10:03 AM
UnitedHealth Group reports Q3 2025 results
UNH
Earnings
Guidance Update
- UnitedHealth Group reported Q3 2025 consolidated revenues of $113.2 billion, up 12% year-over-year, with earnings from operations of $4.3 billion; GAAP EPS of $2.59 and adjusted EPS of $2.92
- The UnitedHealthcare segment saw revenues grow 16% to $87.1 billion, serving 50.1 million consumers, while Optum revenues rose 8% to $69.2 billion
- Operating cash flows were $5.9 billion (2.3x net income), and the debt-to-capital ratio was 44.1% as of September 30, 2025
- UnitedHealth Group raised its full-year 2025 EPS outlook to at least $14.90 (GAAP) and $16.25 (adjusted)
Oct 28, 2025, 10:02 AM
UnitedHealth Optum CFO Transition
UNH
CFO Change
Management Change
Guidance Update
- Roger Connor will step down as Optum CFO on November 1 to return to the UK for family reasons but will remain until April to ensure a smooth handover.
- Ben Eklo, a nearly 20-year UnitedHealth veteran, will assume the Optum CFO role starting November 1.
- Optum oversees over $250 billion in annual revenue and is projected to deliver $266–267.5 billion in revenue and $12.55–12.85 billion in operating earnings for 2025.
- This CFO change follows broader management shakeups amid a cyberattack, rising medical costs, and the abrupt CEO departure of Andrew Witty.
Oct 23, 2025, 6:13 PM
UnitedHealth acquires 45-doctor Massachusetts primary care group
UNH
M&A
New Projects/Investments
- UnitedHealth’s Optum division, through Atrius Health, acquired Acton Medical Associates, a 45-physician primary care group near Boston to expand its care network.
- The deal reflects Optum’s strategy to diversify services and strengthen healthcare delivery despite a $6.6 billion earnings shortfall reported earlier in 2025.
- Acton Medical, founded in 1955, joins Atrius Health’s network of 700+ providers serving 749,000 patients in the Boston area.
- UnitedHealth insures approximately 51 million members globally, including 1 million outside the U.S., underscoring its market leadership.
Oct 9, 2025, 9:03 PM
UnitedHealth Group under shareholder investigation for data firewall claims
UNH
Legal Proceedings
M&A
- Bragar Eagel & Squire is investigating potential claims against UnitedHealth on behalf of long-term stockholders who held shares between March 14, 2022 and February 27, 2024.
- The complaint alleges UnitedHealth misrepresented its post-merger “robust firewall processes” between Optum and UnitedHealthcare after acquiring Change Healthcare.
- On February 27, 2024, the DOJ reopened its antitrust probe, triggering a $27 per-share drop and erasing nearly $25 billion in market value.
- Affected investors can contact Bragar Eagel & Squire at no cost to discuss their legal rights.
Oct 8, 2025, 7:04 PM
Quarterly earnings call transcripts for UNITEDHEALTH GROUP.
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