UnitedHealth Group Incorporated (UNH) reported earnings for Q2 ending June 30 and stuck to its full-year forecast, as per reports. The company warned of rising costs later this year as Americans catch up on less urgent surgeries put on hold by the coronavirus pandemic. The Insurer also expects future results to be pulled down by the assistance measures already in action. Premium credits and other discounts of $1.5 billion has been given to some members because of the drop in medical claims due to the COVID-19 pandemic.
- The company’s major business that sells health insurance plans generated $49.1 billion in sales, a 1% percent rise from a year earlier.
- Earnings per share of $7.12 were reported, excluding items.
- UnitedHealth expects full-year adjusted profit of $16.25 to $16.55 per share, as demand for health care, improved in May.
- The percentage of premiums paid out for medical services touched historic lows of 70.2% in the quarter ending June 30, in comparison to 83.1% a year earlier but better than analysts’ estimates of 78.38%.
Dow 30 component UnitedHealth Group Incorporated (UNH) operates as a diversified health and well-being company in the United States. The company’s UnitedHealthcare segment offers consumer-oriented health benefit plans and services for national employers, public sector employers, mid-sized employers, small businesses, individuals, and military service members; and health care coverage, and health and well-being services to individuals aged 50 and older addressing their needs for preventive and acute health care services. To learn more about (UNH) please visit the Vista Partners Company Dedicated UNH Coverage Page.
Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.
Stay Informed! Stay Competitive! Please join us at Vista Partners and receive our FREE email updates throughout the week and view our exclusive content and research.