UnitedHealth Group Incorporated reported its second quarter 2024 financial results on July 16, 2024. The company saw revenues of $98.9 billion, a nearly $6 billion increase year over year, primarily driven by growth in Optum and UnitedHealthcare's domestic offerings. UnitedHealthcare's commercial offerings grew by 2.3 million consumers year to date. The company's cash flows from operations were strong at $6.7 billion, 1.5 times the net income. However, the quarter's earnings were impacted by the classification of South American operations as held for sale and the effects of a cyberattack. Adjusted earnings per share were $6.80, including business disruption impacts of $0.28 per share. The cyberattack impacts totaled $0.92 per share for the quarter, with the company providing over $9 billion in support to affected care providers. UnitedHealth updated...Show More

UnitedHealth Group Incorporated reported its second quarter 2024 financial results on July 16, 2024. The company saw revenues of $98.9 billion, a nearly $6 billion increase year over year, primarily driven by growth in Optum and UnitedHealthcare's domestic offerings. UnitedHealthcare's commercial offerings grew by 2.3 million consumers year to date. The company's cash flows from operations were strong at $6.7 billion, 1.5 times the net income. However, the quarter's earnings were impacted by the classification of South American operations as held for sale and the effects of a cyberattack. Adjusted earnings per share were $6.80, including business disruption impacts of $0.28 per share. The cyberattack impacts totaled $0.92 per share for the quarter, with the company providing over $9 billion in support to affected care providers. UnitedHealth updated its full-year 2024 net earnings outlook to $15.95 to $16.40 per share, reflecting these impacts, but maintained its adjusted net earnings outlook of $27.50 to $28.00 per share. The company completed the sale of its larger Brazilian operations in the first quarter of 2024 and intends to sell its remaining South American operations. The second quarter's operating cost ratio improved to 13.3% from 14.9% in 2023, indicating continued cost efficiency.