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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 | |
---|---|---|---|---|---|---|---|---|
29.59 | 5.74% | 544.96 | 546.72 | 527.13 | 534.10 | 5,047,294 | 16:28:26 |
UnitedHealth Group (NYSE: UNH) reported second quarter 2024 results reflecting broad-based growth at Optum and UnitedHealthcare.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240716029443/en/
UnitedHealth Group corporate headquarters (Photo: Business Wire)
“The diversified, durable growth across UnitedHealth Group stems from our colleagues’ commitment to ensuring high-quality, affordable care is available to the people we serve, and positions us well for the near and long-term,” said Andrew Witty, chief executive officer of UnitedHealth Group.
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.
Cyberattack Update
The company has restored the majority of the affected Change Healthcare services while continuing to provide financial support to the remaining health care providers in need. To date, the company has provided over $9 billion in advance funding and interest-free loans to support care providers.
Total cyberattack impacts in the second quarter were $0.92 per share. This included $0.64 per share to support direct response efforts such as the Change Healthcare clearinghouse platform restoration and increased medical care expenditures. Additionally, Change Healthcare business disruption impacts, reflecting lost revenue and the costs of maintaining full readiness of the affected Change Healthcare services, were $0.28 per share in the second quarter.
The company currently estimates the total full year 2024 impact at $1.90 to $2.05 per share. Within this, direct response costs are estimated at $1.30 to $1.35, an increase of $0.40 to $0.45 from the initial estimate. The change is due to the company’s care provider financial support initiatives and consumer notification costs. Business disruption impacts are estimated at $0.60 to $0.70 per share.
South America Update
Having completed the sale of its Brazilian business, the company intends to sell its remaining South American operations. Total South American impacts in the quarter were $1.28 per share, the majority of which is non-cash and is due to the cumulative impact of foreign currency losses.
Quarterly Financial Performance
Three Months Ended
June 30,
2024
June 30,
2024 (Adj)
June 30,
2023
December 31,
2023
Revenues
$98.9 billion
$99.1 billion
$92.9 billion
$94.4 billion
Earnings from Operations
$ 7.9 billion
$ 8.7 billion
$ 8.1 billion
$ 7.7 billion
Net Margin
4.3%
6.0%
5.9%
5.8%
UnitedHealthcare provides health care benefits globally, serving individuals and employers, and Medicare and Medicaid beneficiaries. UnitedHealthcare is dedicated to improving the value customers and consumers receive by improving health and wellness, enhancing the quality of care received, simplifying the health care experience, and reducing the total cost of care.
Quarterly Financial Performance
Three Months Ended
June 30,
2024
June 30,
2024 (Adj)
June 30,
2023
December 31,
2023
Revenues
$73.9 billion
$74.1 billion
$70.2 billion
$70.8 billion
Earnings from Operations
$ 4.0 billion
$ 4.4 billion
$ 4.4 billion
$ 3.1 billion
Operating Margin
5.4%
5.9%
6.2%
4.4%
The Optum health services businesses serve the global health care marketplace, including payers, care providers, employers, governments, life sciences companies and consumers. Using market-leading information, analytics and technology to yield clinical insights, Optum helps improve overall health system performance by optimizing care quality, reducing care costs and improving the consumer experience.
Quarterly Financial Performance
Three Months Ended
June 30,
2024
June 30,
2024 (Adj)
June 30,
2023
December 31,
2023
Revenues
$62.9 billion
$62.9 billion
$56.3 billion
$59.5 billion
Earnings from Operations
$ 3.9 billion
$ 4.3 billion
$ 3.7 billion
$ 4.6 billion
Operating Margin
6.2%
6.8%
6.6%
7.7%
About UnitedHealth Group
UnitedHealth Group (NYSE: UNH) is a health care and well-being company with a mission to help people live healthier lives and help make the health system work better for everyone through two distinct and complementary businesses. Optum delivers care aided by technology and data, empowering people, partners and providers with the guidance and tools they need to achieve better health. UnitedHealthcare offers a full range of health benefits, enabling affordable coverage, simplifying the health care experience and delivering access to high-quality care. Visit UnitedHealth Group at www.unitedhealthgroup.com and follow UnitedHealth Group on LinkedIn.
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 on the Investor Relations page and at https://uhg.com/Replay through July 30, 2024. This earnings release and the Form 8-K dated July 16, 2024, 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 laws. 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: 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; cyberattacks, other privacy/data security incidents, or our failure to comply with related regulations; 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; the DOJ’s legal action relating to the risk adjustment submission matter; our ability to maintain and achieve improvement in quality scores impacting revenue; failure to maintain effective and efficient information systems or if our technology products do not operate as intended; risks and uncertainties associated with our businesses providing pharmacy care services; competitive pressures, including our ability to maintain or increase our market share; changes in or challenges to our public sector contract awards; failure to achieve targeted operating cost productivity improvements; failure to develop and maintain satisfactory relationships with health care payers, physicians, hospitals and other service providers; the impact of potential changes in tax laws and regulations; increases in costs and other liabilities associated with litigation, government investigations, audits or reviews; failure to complete, manage or integrate strategic transactions; risk and uncertainties associated with the pending sale of operations in South America; risks associated with public health crises arising from large-scale medical emergencies, pandemics, natural disasters and other extreme events; failure to attract, develop, retain and manage the succession of key employees and executives; our investment portfolio performance; impairment of our goodwill and intangible assets; failure to protect proprietary rights to our databases, software and related products; downgrades in our credit ratings; and our ability to obtain sufficient funds from our regulated subsidiaries or from external financings to fund our obligations, reinvest in our business, 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
Quarter Ended June 30, 2024
UNITEDHEALTH GROUP
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in millions, except per share data; unaudited)
Three Months Ended
June 30,
Six Months Ended
June 30,
2024
2023
2024
2023
Revenues
Premiums
$76,897
$72,474
$154,885
$145,260
Products
12,211
10,651
24,120
20,918
Services
8,750
8,663
17,638
16,743
Investment and other income
997
1,115
2,008
1,913
Total revenues
98,855
92,903
198,651
184,834
Operating costs
Medical costs
65,458
60,268
131,193
120,113
Operating costs
13,162
13,809
27,239
27,434
Cost of products sold
11,340
9,748
22,396
19,153
Depreciation and amortization
1,020
1,021
2,017
1,991
Total operating costs
90,980
84,846
182,845
168,691
Earnings from operations
7,875
8,057
15,806
16,143
Interest expense
(985)
(828)
(1,829)
(1,582)
Loss on sale of subsidiary and subsidiaries held for sale
(1,225)
—
(8,311)
—
Earnings before income taxes
5,665
7,229
5,666
14,561
Provision for income taxes
(1,244)
(1,572)
(2,466)
(3,130)
Net earnings
4,421
5,657
3,200
11,431
Earnings attributable to noncontrolling interests
(205)
(183)
(393)
(346)
Net earnings attributable to UnitedHealth Group common shareholders
$4,216
$5,474
$2,807
$11,085
Diluted earnings per share attributable to UnitedHealth Group common shareholders
$4.54
$5.82
$3.02
$11.77
Adjusted earnings per share attributable to UnitedHealth Group common shareholders (a)
$6.80
$6.14
$13.71
$12.39
Diluted weighted-average common shares outstanding
928
940
929
942
(a)See page 7 for a reconciliation of non-GAAP measures.
UNITEDHEALTH GROUP
CONDENSED CONSOLIDATED BALANCE SHEETS
(in millions; unaudited)
June 30, 2024
December 31, 2023
Assets
Cash and short-term investments
$31,323
$29,628
Accounts receivable, net
23,115
21,276
Other current assets
37,600
27,533
Total current assets
92,038
78,437
Long-term investments
46,113
47,609
Other long-term assets
147,905
147,674
Total assets
$286,056
$273,720
Liabilities, redeemable noncontrolling interests and equity
Medical costs payable
$32,547
$32,395
Short-term borrowings and current maturities of long-term debt
11,371
4,274
Other current liabilities
60,752
62,385
Total current liabilities
104,670
99,054
Long-term debt, less current maturities
63,727
58,263
Other long-term liabilities
18,425
17,484
Redeemable noncontrolling interests
4,558
4,498
Equity
94,676
94,421
Total liabilities, redeemable noncontrolling interests and equity
$286,056
$273,720
UNITEDHEALTH GROUP
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in millions; unaudited)
Six Months Ended June 30,
2024
2023
Operating Activities
Net earnings
$3,200
$11,431
Noncash items:
Depreciation and amortization
2,017
1,991
Deferred income taxes and other
101
(573)
Share-based compensation
594
604
Loss on sale of subsidiary and subsidiaries held for sale
8,311
—
Net changes in operating assets and liabilities
(6,333)
13,906
Cash flows from operating activities
7,890
27,359
Investing Activities
Purchases of investments, net of sales and maturities
(221)
(1,574)
Purchases of property, equipment and capitalized software
(1,596)
(1,589)
Cash paid for acquisitions, net
(3,031)
(8,161)
Loans to providers - cyberattack
(8,100)
—
Other, net
(809)
(424)
Cash flows used for investing activities
(13,757)
(11,748)
Financing Activities
Common share repurchases
(3,072)
(5,000)
Dividends paid
(3,664)
(3,284)
Net change in short-term borrowings and long-term debt
12,790
7,695
Other, net
981
3,320
Cash flows from financing activities
7,035
2,731
Effect of exchange rate changes on cash and cash equivalents
(44)
106
Increase in cash and cash equivalents, including cash within businesses held for sale
1,124
18,448
Less: cash within businesses held for sale
(265)
—
Net increase in cash and cash equivalents
859
18,448
Cash and cash equivalents, beginning of period
25,427
23,365
Cash and cash equivalents, end of period
$26,286
$41,813
UNITEDHEALTH GROUP
REVENUES BY BUSINESS - SUPPLEMENTAL FINANCIAL INFORMATION
(in millions; unaudited)
Optum
UnitedHealth Group Consolidated (a)
UnitedHealthcare
Optum Health
Optum Insight
Optum Rx
Total Optum (a)
Three Months Ended June 30, 2024
Total revenues
$73,866
$27,050
$4,543
$32,415
$62,879
$98,855
South American impacts
220
—
—
—
—
220
Adjusted revenues (b)
$74,086
$27,050
$4,543
$32,415
$62,879
$99,075
Business disruption impacts - cyberattack (c)
$—
$—
$334
$—
$334
$334
Three Months Ended June 30, 2023
Total revenues
$70,231
$23,917
$4,674
$28,646
$56,344
$92,903
Six Months Ended June 30, 2024
Total revenues
$149,223
$53,781
$9,045
$63,250
$123,931
$198,651
South American impacts
220
—
—
—
—
220
Adjusted revenues (b)
$149,443
$53,781
$9,045
$63,250
$123,931
$198,871
Business disruption impacts - cyberattack (c)
$—
$—
$613
$—
$613
$613
Six Months Ended June 30, 2023
Total revenues
$140,699
$46,921
$9,170
$56,064
$110,403
$184,834
UnitedHealthcare Revenues
(in millions; unaudited)
Employer & Individual (E&I)
Medicare & Retirement
Community & State
Total UnitedHealthcare
Domestic
Global
Total E&I
Three Months Ended June 30, 2024
Total revenues
$18,646
$591
$19,237
$34,904
$19,725
$73,866
Three Months Ended June 30, 2023
Total revenues
$16,759
$2,325
$19,084
$32,440
$18,707
$70,231
Six Months Ended June 30, 2024
Total revenues
$36,485
$2,123
$38,608
$70,390
$40,225
$149,223
Six Months Ended June 30, 2023
Total revenues
$33,303
$4,488
$37,791
$65,446
$37,462
$140,699
(a)Optum and consolidated revenues for the three months ended June 30, 2024 and 2023 include Optum eliminations of $1,129 and $893; and corporate eliminations of $37,890 and $33,672, respectively. Optum and consolidated revenues for the six months ended June 30, 2024 and 2023 include Optum eliminations of $2,145 and $1,752; and corporate eliminations of $74,503 and $66,268, respectively.
(b)See page 7 for description of non-GAAP measures.
(c)Amounts represent reduced revenues during the business disruption period.
UNITEDHEALTH GROUP
EARNINGS BY BUSINESS - SUPPLEMENTAL FINANCIAL INFORMATION
(in millions, except percentages; unaudited)
Optum
UnitedHealth Group Consolidated
UnitedHealthcare
Optum Health
Optum Insight
Optum Rx
Total Optum
Three Months Ended June 30, 2024
Earnings from operations
$4,004
$1,919
$546
$1,406
$3,871
$7,875
Direct response costs - cyberattack
255
(a)
22
(a)
394
—
416
671
South American impacts
115
—
—
—
—
115
Adjusted earnings from operations (b)
$4,374
$1,941
$940
$1,406
$4,287
$8,661
Total direct response costs - cyberattack (c)
$255
$22
$394
$—
$416
$776
Operating margin
5.4 %
7.1 %
12.0 %
4.3 %
6.2 %
8.0 %
Adjusted operating margin (b)
5.9 %
7.2 %
20.7 %
4.3 %
6.8 %
8.7 %
Business disruption impacts - cyberattack (d)
$—
$—
$334
$—
$334
$334
Total cyberattack impacts
$255
$22
$728
$—
$750
$1,110
Three Months Ended June 30, 2023
Earnings from operations
$4,358
$1,525
$968
$1,206
$3,699
$8,057
Operating margin
6.2 %
6.4 %
20.7 %
4.2 %
6.6 %
8.7 %
Six Months Ended June 30, 2024
Earnings from operations
$8,399
$3,818
$1,036
$2,553
$7,407
$15,806
Direct response costs - cyberattack
485
(a)
160
(a)
619
—
779
1,264
South American impacts
115
—
—
—
—
115
Adjusted earnings from operations (b)
$8,999
$3,978
$1,655
$2,553
$8,186
$17,185
Total direct response costs - cyberattack (c)
$485
$160
$619
$—
$779
$1,369
Operating margin
5.6 %
7.1 %
11.5 %
4.0 %
6.0 %
8.0 %
Adjusted operating margin (b)
6.0 %
7.4 %
18.3 %
4.0 %
6.6 %
8.6 %
Business disruption impacts - cyberattack (d)
$—
$—
$613
$—
$613
$613
Total cyberattack impacts
$485
$160
$1,232
$—
$1,392
$1,982
Six Months Ended June 30, 2023
Earnings from operations
$8,701
$3,301
$1,875
$2,266
$7,442
$16,143
Operating margin
6.2 %
7.0 %
20.4 %
4.0 %
6.7 %
8.7 %
(a)Amounts primarily represent incremental medical costs for accommodations to support care providers.
(b)See page 7 for description of non-GAAP measures.
(c)Amounts represent direct response costs incurred within the operating segments and at the parent (e.g., interest expense).
(d) Amounts represent reduced revenues during the business disruption period. These amounts are not included within the adjustment to earnings from operations.UNITEDHEALTH GROUP
PEOPLE SERVED AND PERFORMANCE METRICS - SUPPLEMENTAL FINANCIAL INFORMATION
(unaudited)
UnitedHealthcare Customer Profile
(in thousands)
People Served
June 30, 2024
March 31, 2024
December 31, 2023
June 30, 2023
Commercial - Domestic:
Risk-based
8,735
8,545
8,115
8,035
Fee-based
20,835
20,870
19,200
19,140
Total Commercial - Domestic
29,570
29,415
27,315
27,175
Medicare Advantage
7,770
7,760
7,695
7,590
Medicaid
7,410
7,680
7,845
8,355
Medicare Supplement (Standardized)
4,335
4,325
4,355
4,330
Total Community and Senior
19,515
19,765
19,895
20,275
Total UnitedHealthcare - Domestic Medical
49,085
49,180
47,210
47,450
Commercial - Global
1,330
2,295
5,540
5,385
Total UnitedHealthcare - Medical
50,415
51,475
52,750
52,835
Supplemental Data
Medicare Part D stand-alone
3,065
3,085
3,315
3,355
Optum Performance Metrics
June 30, 2024
March 31, 2024
December 31, 2023
June 30, 2023
Optum Health Consumers Served (in millions)
104
104
103
103
Optum Insight Contract Backlog (in billions)
$32.6
$32.8
$32.1
$31.4
Optum Rx Quarterly Adjusted Scripts (in millions)
399
395
400
381
Note: UnitedHealth Group served 149 million unique individuals across all businesses at June 30, 2024.
UNITEDHEALTH GROUP
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
Use of Non-GAAP Financial Measures
Adjusted net earnings per share, adjusted earnings from operations, adjusted operating margin, adjusted net margin, adjusted revenues and adjusted medical care ratio are non-GAAP financial measures. 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. Adjustments made to these measures are as follows:
Intangible Amortization: Adjusted net earnings per share excludes intangible amortization from the relevant GAAP measure. As amortization fluctuates based on the size and timing of the Company’s acquisition activity, management believes this exclusion presents 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.
South American Impacts: Adjusted net earnings per share and adjusted net margin excludes the effects of various international transactions, including the loss on sale of our Brazilian operations that was completed on February 6, 2024, the loss on our remaining South American operations being classified as held for sale and certain other non-recurring matters impacting our South American operations. Adjusted earnings from operations, adjusted operating margin, adjusted medical care ratio and adjusted revenues excludes the effects of certain non-recurring matters impacting our South American operations. As these matters are related to the Company's strategy to exit South America, the impact is not representative of the Company's underlying business performance and therefore management believes the exclusion presents a more useful comparison of the Company's underlying business performance and trends from period to period.
Direct Response Costs - Cyberattack: Adjusted net earnings per share, adjusted earnings from operations, adjusted medical care ratio, adjusted operating margin and adjusted net margin excludes cyberattack direct response costs. Management believes the exclusion of costs incurred to investigate and remediate the attack, other direct and incremental costs incurred as a result of the cyberattack and incremental costs for accommodations to support care providers presents a more useful comparison of the Company's and its reportable segments' underlying business performance and trends from period to period.
Note: See pages 4 and 5 for reconciliation of GAAP amounts to adjusted revenues, adjusted earnings from operations and adjusted operating margin.
UNITEDHEALTH GROUP
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(in millions, except per share data; unaudited)
Adjusted Net Earnings Per Share
Three Months Ended June 30,
Six Months Ended June 30,
Projected Year Ended December 31,
2024
2023
2024
2023
2024
Net earnings attributable to UnitedHealth Group common shareholders
$4,216
$5,474
$2,807
$11,085
$14,750 - $15,300
Intangible amortization
417
398
816
786
~1,600
Tax effect of intangible amortization
(103)
(100)
(201)
(196)
~(400)
South American impacts
1,340
—
8,426
—
~8,450
Tax effect of South American impacts
(157)
—
(157)
—
~(160)
Direct response costs - cyberattack
776
—
1,369
—
1,600 -1,650
Tax effect of direct response costs - cyberattack
(182)
—
(323)
—
(375) - (400)
Adjusted net earnings attributable to UnitedHealth Group common shareholders
$6,307
$5,772
$12,737
$11,675
$25,400 - $26,000
Diluted earnings per share
$4.54
$5.82
$3.02
$11.77
$15.95 - $16.40
Intangible amortization per share
0.45
0.42
0.88
0.83
~1.75
Tax effect of intangible amortization per share
(0.11)
(0.10)
(0.22)
(0.21)
~(0.45)
South American impacts per share
1.45
—
9.07
—
~9.10
Tax effect of South American impacts per share
(0.17)
—
(0.17)
—
~(0.15)
Direct response costs - cyberattack per share
0.84
—
1.47
—
1.70 - 1.80
Tax effects of direct response costs - cyberattack per share
(0.20)
—
(0.34)
—
(0.40) - (0.45)
Adjusted diluted earnings per share
$6.80
$6.14
$13.71
$12.39
$27.50 - $28.00
Additional Information: Total Cyberattack Impacts
Business disruption impacts (a)
$334
$—
$613
$—
$700 - $800
Tax effect of business disruption impacts (a)
(70)
—
(118)
—
(140) - (160)
Business disruption impacts, net of tax (a)
$264
$—
$495
$—
$560 - $640
Business disruption impacts per share (a)
$0.28
$—
$0.53
$—
$0.60 - $0.70
Total cyberattack impacts
$1,110
$—
$1,982
$—
$2,300 - $2,450
Tax effect of total cyberattack impacts
(252)
—
(441)
—
(515) - (560)
Total cyberattack impacts, net of tax
$858
$—
$1,541
$—
$1,785 - $1,890
Total cyberattack impacts per share
$0.92
$—
$1.66
$—
$1.90 - $2.05
(a)Amounts represent reduced revenues during the business disruption period. These amounts are not included within the adjustment to net earnings.
Adjusted Net Margin
Three Months Ended June 30, 2024
Six Months Ended June 30, 2024
Consolidated revenue
$98,855
$198,651
South American impacts
220
220
Adjusted consolidated revenues
$99,075
$198,871
Net earnings attributable to UnitedHealth Group common shareholders
$4,216
$2,807
South American impacts
1,340
8,426
Tax effect of South American impacts
(157)
(157)
Direct response costs - cyberattack
776
1,369
Tax effect of direct response costs - cyberattack
(182)
(323)
Adjusted net earnings attributable to UnitedHealth Group common shareholders for South American impacts and direct response costs
$5,993
$12,122
Net margin attributable to UnitedHealth Group common shareholders
4.3 %
1.4 %
Adjusted net margin attributable to UnitedHealth Group common shareholders for South American impacts and direct response costs
6.0 %
6.1 %
Adjusted Medical Care Ratio
Projected Year Ended December 31, 2024
Medical care ratio
84.3% +/- 50 bps
Impact of direct response costs and South American impacts
~(0.3)%
Adjusted medical care ratio
84.0% +/- 50 bps
View source version on businesswire.com: https://www.businesswire.com/news/home/20240716029443/en/
Investor Contact: Zack Sopcak 952-936-7215 zack.sopcak@uhg.com
Media Contact: Eric Hausman 952-936-3963 eric.hausman@uhg.com
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