UnitedHealth Group tops earnings estimates, raises profit guidance

UnitedHealth Group (NYSE:) reported strong third-quarter results, with adjusted of $6.56, beating the year-ago period and surpassing analyst estimates of $6.33.

Total revenue for the quarter reached $92.4 billion, representing a 14% increase from the same period last year and exceeding the estimated $91.4 billion.

UnitedHealthcare Segment’s revenue rose 13% YoY to $69.85B, OptumRx sales jumped 14% to $28.86B. OptumHealth saw its revenue increase to $23.86B, up 29% YoY.

UnitedHealth Group adjusted its full-year 2023 net earnings outlook to $23.60 to $23.75 per share and adjusted net earnings to $24.85 to $25.00 per share. Analysts were looking for adjusted FY EPS of $24.84.

“We are well-positioned to help even more people and continue to generate strong, diversified growth in the coming years,” said Andrew Witty, chief executive officer of UnitedHealth Group.