UnitedHealth Group reported record revenue in 2024, but profits declined as the company continues to grapple with costs associated with the February cyberattack on Change Healthcare and headwinds within its insurance business, according to the company's year-end earnings report released Jan. 16.
UnitedHealth Group
Total revenues in 2024 were $400.3 billion, up 7.7% year over year. In the fourth quarter, revenues were $100.8 billion.
For 2025, the company projects revenues of $450 billion to $455 billion and adjusted net earnings of $29.50 to $30.00 per share.
Total net earnings in 2024 were $14.4 billion, down 35.6% from $22.4 billion year over year. In the fourth quarter, net earnings were $5.5 billion. Net margin for 2024 was 3.6%.
Full year and fourth quarter adjusted earnings per share were $27.66 and $6.81 per share, respectively.
The company's medical loss ratio was 85.5% for 2024.
UnitedHealthcare
Total revenues in 2024 were $298.2 billion, up 6% year over year. In the fourth quarter, revenues were $74.1 billion.
Total earnings from operations in 2024 were $15.6 billion, down 4.9% year over year. In the fourth quarter, earnings were $3 billion. The operating margin in 2024 was 5.2% and 4% in the fourth quarter.
Total domestic membership is 49.3 million, which grew by 2.1 million in 2024. Commercial membership in 2024 is 29.7 million. There are 7.8 million Medicare Advantage members, 7.4 million Medicaid members, and 4.3 million members with Medicare supplement plans. Part D standalone membership is 3.1 million.
Optum
Total revenues in 2024 were $253 billion, up 11.7% year over year and led by Optum Rx and Optum Health. In the fourth quarter, revenues were $65.1 billion.
Total earnings from operations in 2024 were $16.7 billion. In the fourth quarter, earnings were $4.8 billion. The operating margin in 2024 was 6.6% and 7.4% in the fourth quarter.
Optum Health's 2024 revenues were $105.4 billion, up 10.5%
Optum Insight’s 2024 revenues were $18.8 billion, down 1%.
Optum Rx revenues in 2024 were $133.2 billion, up 14.8%.