We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
UnitedHealth Group Inc | NYSE:UNH | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 513.88 | 2 | 09:41:21 |
Fundamental execution was strong across UnitedHealth Group (NYSE: UNH) in the fourth quarter and throughout the full year 2020, led by Optum and by UnitedHealthcare’s community and senior benefit businesses, even as the Company delivered expansive voluntary relief efforts for consumers, care providers and customers across the health system.
“I couldn’t be prouder of the more than 325,000 women and men of this enterprise for their role in advancing a higher performing health system during these times of unprecedented challenges,” said David S. Wichmann, chief executive officer of UnitedHealth Group. “We are grateful for the human spirit and resolve of our people, including our 125,000 clinicians who, with other frontline health care workers, demonstrated extraordinary collaboration, compassion and innovation.”
The full year and fourth quarter results reflect continued strong performance, impacted by COVID-19 care costs, continued voluntary consumer and customer assistance initiatives and other pandemic-related factors. As expected, fourth quarter net earnings of $2.30 per share and adjusted earnings of $2.52 per share declined as care patterns normalized, while COVID-19 costs rose, and further rebate effects were recognized. The 2020 results were consistent with the outlook provided by the Company at its December 1st, 2020 Investor Conference.
The Company affirmed its recently issued full year earnings outlook for 2021, including net earnings of $16.90 to $17.40 per share and adjusted net earnings of $17.75 to $18.25 per share. As previously discussed, this outlook includes approximately $1.80 per share in potential net unfavorable impact to accommodate continuing COVID-19 effects, such as: testing and treatment costs; the residual impact of people deferring care in 2020; and unemployment and other economy-driven factors.
Quarterly and Annual Financial Performance
Three Months Ended
Year Ended
December 31, 2020
December 31, 2019
September 30, 2020
December 31, 2020
December 31, 2019
Revenues
$65.5 billion
$60.9 billion
$65.1 billion
$257.1 billion
$242.2 billion
Earnings from Operations
$3.5 billion
$5.1 billion
$4.7 billion
$22.4 billion
$19.7 billion
Net Margin
3.4%
5.8%
4.9%
6.0%
5.7%
UnitedHealthcare provides health care benefits globally, serving individuals and employers, and Medicare and Medicaid beneficiaries. UnitedHealthcare is dedicated to improving the value consumers receive by reducing the total cost of care, enhancing the quality of care received, improving health and wellness and simplifying the health care experience.
Quarterly and Annual Financial Performance
Three Months Ended
Year Ended
December 31, 2020
December 31, 2019
September 30, 2020
December 31, 2020
December 31, 2019
Revenues
$50.3 billion
$48.2 billion
$50.4 billion
$200.9 billion
$193.8 billion
Earnings from Operations
$396 million
$2.1 billion
$2.1 billion
$12.4 billion
$10.3 billion
Operating Margin
0.8%
4.3%
4.1%
6.2%
5.3%
Optum is a health services business serving the global health care marketplace, including payers, care providers, employers, governments, life sciences companies and consumers. Using market-leading information, data analytics, technology and clinical insights, Optum helps improve overall health system performance: optimizing care quality, reducing health care costs and improving the consumer experience.
Quarterly and Annual Financial Performance
Three Months Ended
Year Ended
December 31, 2020
December 31, 2019
September 30, 2020
December 31, 2020
December 31, 2019
Revenues
$35.9 billion
$29.8 billion
$34.9 billion
$136.3 billion
$113.0 billion
Earnings from Operations
$3.1 billion
$3.0 billion
$2.6 billion
$10.0 billion
$9.4 billion
Operating Margin
8.7%
10.1%
7.4%
7.4%
8.3%
About UnitedHealth Group
UnitedHealth Group (NYSE: UNH) is a diversified health care company dedicated to helping people live healthier lives and helping make the health system work better for everyone. UnitedHealth Group offers a broad spectrum of products and services through two distinct platforms: UnitedHealthcare, which provides health care coverage and benefits services; and Optum, which provides information and technology-enabled health services. For more information, visit UnitedHealth Group at www.unitedhealthgroup.com or follow @UnitedHealthGrp on Twitter.
Earnings Conference Call
As previously announced, UnitedHealth Group will discuss the company’s results, strategy and future outlook on a conference call with investors at 8:45 a.m. Eastern Time today. UnitedHealth Group will host a live webcast of this conference call from the Investor Relations page of the company’s website (www.unitedhealthgroup.com). Following the call, a webcast replay will be available on the same site through February 3, 2021. The conference call replay can also be accessed by dialing 1-855-859-2056, Conference ID: 5181037. This earnings release and the Form 8-K dated January 20, 2021 can also be accessed from the Investor Relations page of the Company’s website.
Non-GAAP Financial Information
This news release presents non-GAAP financial information provided as a complement to the results provided in accordance with accounting principles generally accepted in the United States of America (“GAAP”). A reconciliation of the non-GAAP financial information to the most directly comparable GAAP financial measure is provided in the accompanying tables found at the end of this release.
Forward-Looking Statements
The statements, estimates, projections, guidance or outlook contained in this document include “forward-looking” statements which are intended to take advantage of the “safe harbor” provisions of the federal securities law. The words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “forecast,” “outlook,” “plan,” “project,” “should” and similar expressions identify forward-looking statements. These statements may contain information about financial prospects, economic conditions and trends and involve risks and uncertainties. Actual results could differ materially from those that management expects, depending on the outcome of certain factors including: risks associated with public health crises, large-scale medical emergencies and pandemics, such as the COVID-19 pandemic; our ability to effectively estimate, price for and manage medical costs; new or changes in existing health care laws or regulations, or their enforcement or application; the DOJ’s legal action relating to the risk adjustment submission matter; our ability to maintain and achieve improvement in quality scores impacting revenue; reductions in revenue or delays to cash flows received under government programs; changes in Medicare, the CMS star ratings program or the application of risk adjustment data validation audits; failure to maintain effective and efficient information systems or if our technology products do not operate as intended; cyberattacks, other privacy/data security incidents, or our failure to comply with related regulations; risks and uncertainties associated with the pharmacy benefits management industry; competitive pressures; changes in or challenges to our public sector contract awards; our ability to contract on competitive terms with physicians, hospitals and other service providers; failure to achieve targeted operating cost productivity improvements; increases in costs and other liabilities associated with litigation, government investigations, audits or reviews; failure to manage successfully
our strategic alliances or complete or receive anticipated benefits of strategic transactions; fluctuations in foreign currency exchange rates; downgrades in our credit ratings; our investment portfolio performance; impairment of our goodwill and intangible assets; and our ability to obtain sufficient funds from our regulated subsidiaries or from external financings to fund our obligations, maintain our debt to total capital ratio at targeted levels, maintain our quarterly dividend payment cycle, or continue repurchasing shares of our common stock. This above list is not exhaustive. We discuss these matters, and certain risks that may affect our business operations, financial condition and results of operations more fully in our filings with the SEC, including our reports on Forms 10-K, 10-Q and 8-K. By their nature, forward-looking statements are not guarantees of future performance or results and are subject to risks, uncertainties and assumptions that are difficult to predict or quantify. Actual results may vary materially from expectations expressed or implied in this document or any of our prior communications. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. We do not undertake to update or revise any forward-looking statements, except as required by law.
UNITEDHEALTH GROUP Earnings Release Schedules and Supplementary Information Year Ended December 31, 2020 - Condensed Consolidated Statements of Operations - Condensed Consolidated Balance Sheets - Condensed Consolidated Statements of Cash Flows - Supplemental Financial Information - Businesses - Supplemental Financial Information - Business Metrics - Reconciliation of Non-GAAP Financial Measure UNITEDHEALTH GROUP CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in millions, except per share data) (unaudited) Three Months EndedDecember 31, Year EndedDecember 31,2020
2019
2020
2019
Revenues Premiums$50,581
$47,625
$201,478
$189,699
Products8,690
7,626
34,145
31,597
Services5,751
5,217
20,016
18,973
Investment and other income445
433
1,502
1,886
Total revenues65,467
60,901
257,141
242,155
Operating costs Medical costs42,082
39,276
159,396
156,440
Operating costs11,514
9,301
41,704
35,193
Cost of products sold7,622
6,511
30,745
28,117
Depreciation and amortization732
718
2,891
2,720
Total operating costs61,950
55,806
234,736
222,470
Earnings from operations3,517
5,095
22,405
19,685
Interest expense(401)
(437)
(1,663)
(1,704)
Earnings before income taxes3,116
4,658
20,742
17,981
Provision for income taxes(764)
(990)
(4,973)
(3,742)
Net earnings2,352
3,668
15,769
14,239
Earnings attributable to noncontrolling interests(140)
(127)
(366)
(400)
Net earnings attributable to UnitedHealth Group common shareholders$2,212
$3,541
$15,403
$13,839
Diluted earnings per share attributable to UnitedHealth Group common shareholders$2.30
$3.68
$16.03
$14.33
Adjusted earnings per share attributable to UnitedHealth Group common shareholders (a)$2.52
$3.90
$16.88
$15.11
Diluted weighted-average common shares outstanding961
962
961
966
(a) See page 6 for a reconciliation of the non-GAAP measureUNITEDHEALTH GROUP
CONDENSED CONSOLIDATED BALANCE SHEETS (in millions) (unaudited) December 31, December 31,2020
2019
Assets Cash and short-term investments$19,781
$14,245
Accounts receivable, net12,870
11,822
Other current assets21,067
16,567
Total current assets53,718
42,634
Long-term investments41,242
37,209
Other long-term assets102,329
94,046
Total assets$197,289
$173,889
Liabilities, redeemable noncontrolling interests and equity Medical costs payable$21,872
$21,690
Short-term borrowings and current maturities of long-term debt4,819
3,870
Other current liabilities45,729
36,222
Total current liabilities$72,420
$61,782
Long-term debt, less current maturities38,648
36,808
Other long-term liabilities15,682
13,137
Redeemable noncontrolling interests2,211
1,726
Equity68,328
60,436
Total liabilities, redeemable noncontrolling interests and equity$197,289
$173,889
UNITEDHEALTH GROUP CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in millions) (unaudited) Year EndedDecember 31,2020
2019
Operating Activities Net earnings$15,769
$14,239
Noncash items: Depreciation and amortization2,891
2,720
Deferred income taxes and other(60)
124
Share-based compensation679
697
Net changes in operating assets and liabilities2,895
683
Cash flows from operating activities22,174
18,463
Investing Activities Purchases of investments, net of sales and maturities(2,836)
(2,504)
Purchases of property, equipment and capitalized software(2,051)
(2,071)
Cash paid for acquisitions, net(7,139)
(8,343)
Other, net(506)
219
Cash flows used for investing activities(12,532)
(12,699)
Financing Activities Common share repurchases(4,250)
(5,500)
Dividends paid(4,584)
(3,932)
Net change in short-term borrowings and long-term debt2,586
3,994
Other, net2,658
(187)
Cash flows used for financing activities(3,590)
(5,625)
Effect of exchange rate changes on cash and cash equivalents(116)
(20)
Increase in cash and cash equivalents5,936
119
Cash and cash equivalents, beginning of period10,985
10,866
Cash and cash equivalents, end of period$16,921
$10,985
SUPPLEMENTAL FINANCIAL INFORMATION - BUSINESSES (in millions, except percentages) (unaudited) Three Months EndedDecember 31, Year EndedDecemeber 31,2020
2019
2020
2019
Revenues UnitedHealthcare$50,327
$48,247
$200,875
$193,842
Optum35,851
29,798
136,308
112,950
Eliminations(20,711)
(17,144)
(80,042)
(64,637)
Total consolidated revenues$65,467
$60,901
$257,141
$242,155
Earnings from Operations UnitedHealthcare$396
$2,075
$12,359
$10,326
Optum (a)3,121
3,020
10,046
9,359
Total consolidated earnings from operations$3,517
$5,095
$22,405
$19,685
Operating Margin UnitedHealthcare0.8%
4.3%
6.2%
5.3%
Optum8.7%
10.1%
7.4%
8.3%
Consolidated operating margin5.4%
8.4%
8.7%
8.1%
Revenues UnitedHealthcare Employer & Individual$14,548
$14,538
$55,872
$56,945
UnitedHealthcare Medicare & Retirement22,151
20,603
90,764
83,252
UnitedHealthcare Community & State11,691
10,752
46,487
43,790
UnitedHealthcare Global1,937
2,354
7,752
9,855
OptumHealth$10,978
$8,323
$39,808
$30,317
OptumInsight2,909
2,861
10,802
10,006
OptumRx22,489
19,094
87,498
74,288
Optum eliminations(525)
(480)
(1,800)
(1,661)
(a) Earnings from operations for Optum for the three months and year ended December 31, 2020 included $1,046 and $3,434 for OptumHealth; $843 and $2,725 for OptumInsight; and $1,232 and $3,887 for OptumRx, respectively. Earnings from operations for Optum for the three months and year ended December 31, 2019 included $901 and $2,963 for OptumHealth; $905 and $2,494 for OptumInsight; and $1,214 and $3,902 for OptumRx, respectively. UNITEDHEALTH GROUP SUPPLEMENTAL FINANCIAL INFORMATION - BUSINESS METRICS UNITEDHEALTHCARE CUSTOMER PROFILE (in thousands) People Served December 31, 2020 September 30, 2020 December 31, 2019 Commercial: Risk-based7,910
7,950
8,575
Fee-based18,310
18,400
19,185
Total Commercial26,220
26,350
27,760
Medicare Advantage5,710
5,670
5,270
Medicaid6,620
6,435
5,900
Medicare Supplement (Standardized)4,460
4,450
4,500
Total Public and Senior16,790
16,555
15,670
Total UnitedHealthcare - Domestic Medical43,010
42,905
43,430
Global5,425
5,285
5,720
Total UnitedHealthcare - Medical48,435
48,190
49,150
Supplemental Data Medicare Part D stand-alone4,045
4,075
4,405
OPTUM PERFORMANCE METRICS December 31, 2020 September 30, 2020 December 31, 2019 OptumHealth Consumers Served (in millions)98
98
96
OptumInsight Contract Backlog (in billions)$20.2
$19.9
$19.3
OptumRx Quarterly Adjusted Scripts (in millions)331
325
333
Note: UnitedHealth Group served 142 million unique individuals across all businesses at December 31, 2020. UNITEDHEALTH GROUP RECONCILIATION OF NON-GAAP FINANCIAL MEASURE (in millions, except per share data) (unaudited) ADJUSTED NET EARNINGS PER SHARE(a) Three Months EndedDecember 31, Year EndedDecember 31, ProjectedYear EndedDecember 31,2020
2019
2020
2019
2021
GAAP net earnings attributable to UnitedHealth Group common shareholders$2,212
$3,541
$15,403
$13,839
$16,050 - $16,600 Intangible amortization279
275
1,080
1,004
~1,100 Tax effect of intangible amortization(68)
(68)
(262)
(248)
~(275) Adjusted net earnings attributable to UnitedHealth Group common shareholders$2,423
$3,748
$16,221
$14,595
$16,875 - $17,425 GAAP diluted earnings per share$2.30
$3.68
$16.03
$14.33
$16.90 - $17.40 Intangible amortization per share0.29
0.29
1.12
1.04
~1.15 Tax effect per share of intangible amortization(0.07)
(0.07)
(0.27)
(0.26)
~(0.30) Adjusted diluted earnings per share$2.52
$3.90
$16.88
$15.11
$17.75 - $18.25 (a) Adjusted net earnings per share is a non-GAAP financial measure. Non-GAAP financial measures should be considered in addition to, but not as a substitute for, or superior to, financial measures prepared in accordance with GAAP.Adjusted net earnings per share excludes from the relevant GAAP metric, as applicable, intangible amortization and other items, if any, that do not relate to the Company's underlying business performance. Management believes that the use of adjusted net earnings per share provides investors and management useful information about the earnings impact of acquisition-related intangible asset amortization. As amortization fluctuates based on the size and timing of the Company’s acquisition activity, management believes this exclusion provides a more useful comparison of the Company's underlying business performance and trends from period to period. While intangible assets contribute to the Company’s revenue generation, the intangible amortization is not directly related. Therefore, the related revenues are included in adjusted earnings per share.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210120005191/en/
Investors: Brett Manderfeld Senior Vice President 952-936-7216
Media: Matt Stearns Senior Vice President 202-276-0085
1 Year UnitedHealth Chart |
1 Month UnitedHealth Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions