UnitedHealth Group has released its financial results for the third quarter of 2024, showing significant growth in several key segments. The company exceeded expectations both in revenue and earnings per share.
Financial Results of the Third Quarter
UnitedHealth Group reported revenues rising to $100.8 billion, marking an $8.5 billion increase year-over-year. Operating earnings reached $8.7 billion, with adjusted figures at $9.0 billion, reflecting the company's stability despite the adverse impact of a cyberattack.
Business Growth and Performance Metrics
The medical care ratio rose to 85.2% due to CMS Medicare funding cuts and business mix changes. Operating expenses improved to 13.2%. Cash flows from operations amounted to $14.0 billion. UnitedHealthcare and Optum continued expansion, showing revenue growth.
Projections for 2024
The company projects earnings per share in the range of $15.50 to $15.75, and adjusted earnings of $27.50 to $27.75 per share. UnitedHealth Group continues to develop innovative products and expand service coverage, reinforcing its confidence in future growth.
Despite external challenges, UnitedHealth Group has shown the ability to adapt and deliver strong financial results, remaining confident in its strategic initiatives for future growth.
