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UnitedHealth | 8-K: UnitedHealth Group Reports First Quarter 2024 Results

SEC announcement ·  Apr 16 18:05
Summary by Futu AI
On April 16, 2024, UnitedHealth Group Incorporated released its first quarter financial results for 2024. The report highlighted a revenue increase to $99.8 billion, up nearly $8 billion from the previous year. However, the company faced a net loss of $1.53 per share, primarily due to currency effects from the sale of its Brazil operations and a cyberattack on Change Healthcare. Adjusted earnings per share were $6.91, including a $0.25 per share impact from business disruptions related to the cyberattack but excluding costs from the Brazil sale and direct response efforts. UnitedHealth provided over $6 billion in support to care providers affected by the cyberattack through advance funding and interest-free loans. The cyberattack's total impact on the first quarter was $0.74 per share, with full-year 2024 impacts estimated...Show More
On April 16, 2024, UnitedHealth Group Incorporated released its first quarter financial results for 2024. The report highlighted a revenue increase to $99.8 billion, up nearly $8 billion from the previous year. However, the company faced a net loss of $1.53 per share, primarily due to currency effects from the sale of its Brazil operations and a cyberattack on Change Healthcare. Adjusted earnings per share were $6.91, including a $0.25 per share impact from business disruptions related to the cyberattack but excluding costs from the Brazil sale and direct response efforts. UnitedHealth provided over $6 billion in support to care providers affected by the cyberattack through advance funding and interest-free loans. The cyberattack's total impact on the first quarter was $0.74 per share, with full-year 2024 impacts estimated between $1.15 to $1.35 per share. The company updated its full-year net earnings outlook to $17.60 to $18.20 per share and maintained its adjusted net earnings outlook at $27.50 to $28.00 per share. The financial performance was driven by growth at Optum and UnitedHealthcare, with consistent medical care activity and significant progress in restoring Change Healthcare services.

This announcement is a separate document:

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