The company said its full year 2024 net earnings outlook of $15.50 to $15.75 per share reflects the sale of South American assets and the impact of the cyberattack on Change Healthcare in February. UnitedHealth now estimates it will take a $2.87 billion hit from the cyberattack in 2024, after originally anticipating $1.6 billion in costs.
UnitedHealth Group
Total revenues in Q3 were $100.8 billion, up 9.1% year over year. In Q3 2023, revenues were $92.4 billion.
The company’s adjusted net earnings outlook of $27.50 to $27.75 continues.
Total net income in Q3 was $6.1 billion, up 3.7% year over year. Operating income in the third quarter was $8.7 billion. The company recorded a 6% net margin.
The company’s medical loss ratio was 85.2% in Q3, compared to 82.3% the year prior. Days claims payable were 47.4 in the third quarter compared to 50.7 a year ago.
UnitedHealthcare
Total revenues in Q3 were $74.9 billion, up 7.2% year over year.
Total earnings from operations in Q3 were $4.2 billion. The operating margin in Q3 was 5.6%.
Total domestic membership is 49.3 million. Commercial membership in Q3 is 29.7 million. There are nearly 7.5 million Medicaid members, 7.8 million Medicare Advantage members, and 4.3 million members with Medicare supplement plans. Medicare Part D membership is nearly 3.1 million.
Optum
Total revenues in Q3 were $63.9 billion, up 12.7% year over year and led by Optum Health and Optum Rx.
Total earnings from operations in Q3 were $4.5 billion. The operating margin in Q3 was 7%.
Optum Health’s Q3 revenues were $25.9 billion.
Optum Insights’s Q3 revenues were $4.9 billion.
Optum Rx revenues in Q3 were $34.2 billion. The division processed 410 million adjusted scripts in Q3.
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