Unitedhealth Group Inc

Latest Results (13.07.2026):

Unitedhealth Group Inc — First quarter 2026: UnitedHealth Group reported Q1 2026 revenues of $111.7 billion (up 2% year‑over‑year) with earnings from operations of $9.0 billion. Net earnings attributable to common shareholders were $6.28 billion (diluted EPS $6.90) and adjusted diluted EPS was $7.23. The company cited improved medical cost management (medical cost ratio down 90 bps to 83.9%) while investing in people, technology and consumer/provider experiences, and raised full‑year 2026 adjusted EPS guidance to greater than $18.25 per share.

Key figures

Revenues $111.7B (+2% YoY); earnings from operations $9.0B; net earnings attributable to common shareholders $6.28B; diluted EPS $6.90; adjusted diluted EPS $7.23; diluted weighted‑average shares 910 million.

Margins and cost trends

Medical cost ratio improved to 83.9% (down 90 bps YoY). Operating cost ratio rose to 13.8% (vs. 12.4% in Q1 2025) reflecting incremental investments in people, processes and technology.

UnitedHealthcare segment

UnitedHealthcare revenues $86.3B (up vs. $84.6B); earnings from operations $5.7B with operating margin 6.6% (vs. 6.2% a year ago). People served ~49.1 million in Q1 2026.

Optum segment

Optum revenues totaled $63.7B and Optum reported earnings from operations $3.3B (margin ~5.2%). Optum Health reported adjusted operating earnings $1.3B (reported $1.1B); Optum Rx scripts were 383M (down vs. prior year).

Cash flow, leverage and capital actions

Cash flows from operations $8.9B (1.4x net income); debt‑to‑capital ratio 42.9% at March 31, 2026 (target ~40% in back half of 2026). Company expects to repurchase at least $2.0B of common stock by end of Q2 2026 and paid $2.0B in dividends in the quarter.

Guidance and adjustments

Full‑year 2026 guidance: adjusted diluted EPS greater than $18.25 and GAAP diluted EPS greater than $17.35. Adjusted results exclude items such as intangible amortization, portfolio divestitures/South American impacts and certain restructuring/other items.

Other strategic items

Entered agreement to acquire Alegeus (consumer‑directed benefits platform) expected to close in H2 2026 and to be earnings‑neutral in 2026; completed sale of Optum UK with $400M committed to United Health Foundation; refreshed leadership and accelerated simplification and modernization initiatives including AI and interoperability improvements.