UnitedHealth Group Reports Second Quarter Results

July 16, 2024
  • Revenues of $98.9 Billion Grew Nearly $6 Billion Year Over Year, Led by Optum

  • Consumers Served by UnitedHealthcare’s Commercial Domestic Offerings Grew 2.3 Million Year to Date

  • Cash Flows from Operations were $6.7 Billion or 1.5x Net Income

  • Second Quarter Earnings of $4.54 Per Share Reflect Classification of Remaining South American Operations as Held for Sale and Cyberattack Impacts

  • Adjusted Earnings of $6.80 Per Share Include $0.28 in Business Disruption Impacts; Exclude South American and Direct Response Costs

UnitedHealth Group (NYSE: UNH) reported second quarter 2024 results reflecting broad-based growth at Optum and UnitedHealthcare.

“The diversified, durable growth across UnitedHealth Group stems from our colleagues’ commitment to ensuring high-quality, affordable care is available to the people we serve, and positions us well for the near and long-term,” said Andrew Witty, chief executive officer of UnitedHealth Group.

The company updated its full year 2024 net earnings outlook to $15.95 to $16.40 per share to reflect the classification to held for sale of its remaining South America operations and the estimated Change Healthcare cyberattack impacts. The company completed the sale of its larger Brazilian operations in the first quarter of 2024.

The company affirmed the adjusted net earnings outlook of $27.50 to $28.00 per share established at its November 2023 Investor Conference. The consistent outlook absorbs an estimated $0.60 to $0.70 per share of business disruption impacts for the affected Change Healthcare services, which has increased $0.30 per share since the initial estimate was provided last quarter.

Download: UnitedHealth Group Earnings, Including Financial Tables