UnitedHealth Non-GAAP EPS of $7.15 beats by $0.12, revenue of $100.8B beats by $1.52B
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- UnitedHealth press release (NYSE:UNH): Q3 Non-GAAP EPS of $7.15 beats by $0.12.
- Revenue of $100.8B (+9.1% Y/Y) beats by $1.52B.
- Third quarter 2024 revenues grew nearly $8.5 billion to $100.8 billion, led by strong expansion in people served at Optum and UnitedHealthcare.
- Consumers Served by UnitedHealthcare’s Commercial Domestic Offerings Grew 2.4 Million Year to Date
- Third Quarter Earnings of $6.51 Per Share Include Cyberattack Impacts
- The company’s full year 2024 net earnings outlook of $15.50 to $15.75 per share reflects the South America operations disposition activities reported in the first half of 2024 and Change Healthcare cyberattack impacts.
- The company’s adjusted net earnings outlook of $27.50 to $27.75 (vs $27.69 consensus) continues within the $27.50 to $28.00 range established nearly a year ago, even as it absorbs an estimated $0.75 per share of business disruption impacts for the affected Change Healthcare services, which have increased ~$0.10 per share from the estimate provided last quarter.
- The third quarter 2024 medical care ratio was 85.2% compared to 82.3% last year.Days claims payable of 47.4 compared to 45.2 in the second quarter of 2024 and 50.7 in the third quarter of 2023.
- The third quarter of 2024 operating cost ratio of 13.2% compares to 13.3% in the second quarter of 2024 and 15.0% in the prior year, reflecting continued strong operating cost efficiency.