UnitedHealth Gives Upbeat Outlook for 2017

   By Tess Stynes 
 

UnitedHealth Group on Monday preannounced guidance for next year that topped expectations ahead of the health insurer's annual investor conference.

The company, which also affirmed its 2016 per-share earnings outlook, plans to provide more details Tuesday during the investor event.

For 2017, UnitedHealth said it was introducing guidance for adjusted per-share earnings of $9.30 to $9.60 and revenue of $197 billion to $199 billion. Analysts polled by Thomson Reuters had forecast per-share earnings of $9.14 and revenue of $196.6 million.

UnitedHealth last month had dropped hints of good news about its 2017 outlook, saying it would provide details during its investor day. In October the company said that it was "comfortable" with analysts' 2017 earnings projections and that it could "potentially see" its per-share earnings view reflecting a modestly stronger growth outlook. The company also had said it would be aided by expected growth in its business and its planned exit from nearly all of its unprofitable Affordable Care Act plans.

Shares of the company rose 1.9% to $155 after hours.

Write to Tess Stynes at [e-mail]

(END) Dow Jones Newswires

November 28, 2016 17:40 ET (22:40 GMT)

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