Processing Your Payment

Please do not leave this page until complete. This can take a few moments.

October 18, 2016

UnitedHealth 3Q earnings up, drug unit growing

UnitedHealthcare parent UnitedHealth Group said its third-quarter profits grew 23 percent, as higher revenue outpaced expense growth.

For the quarter ended Sept. 30, UnitedHealth reported net income of $1.97 billion, or $2.03 per diluted share, up from $1.6 billion, or $1.65 per share, in the same quarter last year.

Revenue grew 12 percent to $46.3 billion, based on an uptick in enrollment.

The company's net earnings from operations were $3.6 billion, or $2.17 per share, compared to $3 billion in the quarter a year ago, reflecting growth of 23 percent, according to documents filed with the Securities & Exchange Commission.

UnitedHealth's Optum health services unit registered revenue growth of 34 percent year to date. The company also cited a decrease in medical costs as a share of premiums.

“Our growth indicators are positive as we conclude 2016, and we expect to be well positioned in 2017 to better serve consumers and deliver more value to the health system overall,” said Stephen J. Hemsley, CEO of UnitedHealth Group.

The company also boosted its full-year net earnings guidance to $7.45 per share, up from a previous range of $7.25 to $7.40 per share.

Of UnitedHealth Group’s total revenue, UnitedHealthcare – which has downtown Hartford operations – contributed $37.2 billion, up from $32.82 billion a year ago.

Sign up for Enews

Most Recent

Most Recent

0 Comments

Order a PDF