The earnings call highlighted strong revenue growth in various segments, operational efficiencies, and successful expansion in value-based care and pharmacy services. However, it also acknowledged challenges such as increased medical care ratios, cyberattack disruptions, and external pressures from Medicare rate cuts and high drug costs.

Company Guidance

In the UnitedHealth Group's fourth-quarter earnings call for 2024, the company reported over $400 billion in revenues and adjusted earnings per share of $27.66, aligning well within their projected outlook. Despite various challenges, including a $5 billion gap from medical care ratio deviations and nearly $1 billion in disruptions from a cyberattack, the company managed to deliver these results. For 2025, UnitedHealth Group projects revenues approaching $340 billion with a medical care ratio of 86.5%, reflecting an increase of 100 basis points from 2024 due to factors like IRA impacts and Medicare funding cuts. The company plans to serve an additional 5.4 million value-based care patients and generate cash flow from operations nearing $33 billion. They also aim to pass 100% of PBM rebates to customers by 2028. The emphasis remains on enhancing consumer experience and leveraging digital tools, evidenced by a 66% increase in mobile app visits. Despite external pressures, UnitedHealth Group maintains a strong outlook, focusing on value-based care and strategic growth initiatives.

Strong Financial Performance

2024 revenues exceeded $400 billion with adjusted earnings per share of $27.66, well within the outlook ranges set over a year ago.

Optum Health Growth

Optum Health revenues grew to about $105 billion in 2024 and are expected to approach $117 billion in 2025.

Significant Growth in Value-Based Care

Optum Health will serve about 5.4 million value-based care patients in 2025, a growth of 650,000 from 2024.

Optum Rx Expansion

Revenues grew to over $130 billion in 2024 and are projected to be about $146 billion in 2025.

Record Client Retention and New Business Acquisition

Optum Rx customer retention exceeded 98%, with a record 750 new clients.

UnitedHealthcare Revenue Growth

Full-year revenues in 2024 approached $300 billion and are expected to approach $340 billion in 2025.

Operational Efficiency Improvements

Operating cost ratio improved by about 150 basis points over the prior year, supported by AI-driven initiatives.

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UnitedHealth (UNH) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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UNH Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Apr 22, 2025	2025 (Q1)	7.30 / -	6.91	―	―	―
Jan 16, 2025	2024 (Q4)	6.74 / 6.81	6.16	10.55% (+0.65)	―
Oct 15, 2024	2024 (Q3)	7.00 / 7.15	6.56	8.99% (+0.59)	―
Jul 16, 2024	2024 (Q2)	6.65 / 6.80	6.14	10.75% (+0.66)	―
Apr 16, 2024	2024 (Q1)	6.61 / 6.91	6.26	10.38% (+0.65)	―
Jan 12, 2024	2023 (Q4)	5.99 / 6.16	5.34	15.36% (+0.82)	―
Oct 13, 2023	2023 (Q3)	6.33 / 6.56	5.79	13.30% (+0.77)	―
Jul 14, 2023	2023 (Q2)	5.99 / 6.14	5.57	10.23% (+0.57)	―
Apr 14, 2023	2023 (Q1)	6.16 / 6.26	5.49	14.03% (+0.77)	―
Jan 13, 2023	2022 (Q4)	5.17 / 5.34	4.48	19.20% (+0.86)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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UNH Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jan 16, 2025	$543.42	$510.59	-6.04%
Oct 15, 2024	$603.09	$554.16	-8.11%
Jul 16, 2024	$511.59	$544.84	+6.50%
Apr 16, 2024	$440.49	$463.48	+5.22%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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