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