UnitedHealth Raises Profit Targets on Higher Sales

UnitedHealth Group Inc. boosted its profit guidance for the year as revenue growth from its network of health services, premiums and health-care plan membership fueled the company’s third-quarter performance.
The company projects its 2019 per-share earnings to be between $14.15 and $14.25, compared with its previous forecast of $13.95 to $14.15. UnitedHealth said it expects adjusted per-share earnings to come in between $14.90 and $15 a share, compared with earlier projections of $14.70 a share to $14.90 a share.
The parent of the nation’s largest health insurer posted sales of $60.35 billion for the third quarter, up 6.71% from the comparable quarter a year ago and beating the $59.76 billion analysts polled by FactSet had expected.
Sales for the Optum health-services business grew 13.39% to $28.8 billion compared with the year-ago period. Sales for the UnitedHealthcare health-benefits platform grew 4.79% to $48.1 billion during the quarter as commercial and Medicare Advantage membership grew, UnitedHealth said.
Overall, earnings rose to $3.67 a share, up 13.3% from the comparable period last year. Analysts were expecting $3.55 a share.
UnitedHealth reported an adjusted profit of $3.88 a share, topping analysts’ estimates of $3.75 a share.

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