UnitedHealth Group Inc. (UNH) - Get Report posted stronger-than-expected fourth quarter earnings Wednesday, and confirmed its 2021 profit forecast, as Optum continues to power the health care provider's top and bottom lines.
UnitedHealth said adjusted profits for the three months ending in December came in at $2.52 per share, down 35.4% from the same period last year but 11 cents ahead of the Street consensus forecast. Group revenues, UnitedHealth said, rose 7.55% to $60.5 billion, essentially in-line with analysts' estimates of a $65.1 billion tally.
UnitedHealth also reiterated its profit forecast for 2021, which it published in early December, and sees a range for adjusted earnings of between $17.75 and $18.25 per share, with revenues in the region of $277 billion to $280 billion, a 9% increase from the group's 2020 forecast.
UnitedHealth said in December that the 2021 forecasts include a hit of $1.8 per share that reflects costs linked to "accommodate continuing COVID-19 effects, such as: treatment and testing costs; the residual impact of people deferring care in 2020; and unemployment and other economic-driven factors.
https://www.thestreet.com/investing/unitedhealth-tops-q4-profit-forecast-confirms-2021-guidance
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