UnitedHealth · Q3 2024 earnings

Briefing

Reported strong growth in revenues and adjusted earnings, with Optum and UnitedHealthcare driving expansion, while navigating cyberattack impacts.

UnitedHealth Group reported Q3 2024 results with revenues of $100.8 billion, a year-over-year increase of $8.5 billion. The company's earnings per share (EPS) was $6.51, which included impacts from a cyberattack, and adjusted EPS was $7.15, which included $0.12 in business disruption impacts and excluded $0.28 in direct response costs. Growth was driven by an increase in the number of people served by Optum and UnitedHealthcare.

• Revenues grew by $8.5 billion year-over-year to $100.8 billion, driven by expansion in Optum and UnitedHealthcare.
• Third quarter earnings from operations were $8.7 billion, including $0.3 billion in unfavorable cyberattack effects.
• UnitedHealthcare's commercial domestic offerings grew by 2.4 million consumers year-to-date.
• Cash flows from operations were $14.0 billion, reflecting 2.2 times net income, partially due to the timing of cash receipts.

Headline financials

Revenue & EPS history

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 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.