UnitedHealth raises 2021 profit forecast on Optum strength

- Advertisement -


Oct 14 (Businesshala) – UnitedHealth Group Inc (UNH.N) on Thursday raised its full-year adjusted profit forecast after beating analysts’ estimates for third-quarter earnings, fueled by a jump in revenue from its Optum unit. Found help that manages drug benefits.

- Advertisement -

The largest US health insurer said revenue in its Optum business, which provides healthcare data analysis services, jumped nearly 14%.

- Advertisement -

The results come as US health insurance companies wrestle with fluctuating medical costs since the coronavirus outbreak.

For the three months ended September 30, UnitedHealth reported a medical loss ratio — the percentage of premiums paid for medical services — of 83.0%, worse than 81.9% a year earlier. Analysts were expecting 83.5%.

- Advertisement -

The surge in infections in the country in July and August due to the fast-spreading delta variant prompted hospitals in some states to postpone non-urgent medical procedures again, while increasing the number of COVID-19 cases and hospital admissions. rejected Then September.

Excluding items, UnitedHealth earned $4.52 per share, beating analysts’ estimates of $4.41, according to Refinitiv IBES data.

UnitedHealth raised its 2021 adjusted earnings per share forecast from $18.65 to $18.90, up from $18.30 previously to $18.80.

The company’s shares rose 2% in premarket trading.

Reporting by Manojna Maddipatla in Bengaluru; Editing by Shreeraj Kalluvilla

.

- Advertisement -

Stay on top - Get the daily news in your inbox

DMCA / Correction Notice

Recent Articles

Related Stories

Stay on top - Get the daily news in your inbox