Shares of UnitedHealth Group Inc. (UNH) climbed 1.3% in premarket trading Friday, after the health insurer reported fourth-quarter profit and revenue that rose expectations and affirmed its 2023 outlook. Net income rose to $$.76 billion, or $5.03 a share, from $4.07 billion, or $4.26 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share increased to $5.34 from $.48, to beat the FactSet consensus of $5.17. Revenue grew 12.3% to $82.79 billion, above the FactSet consensus of $82.48 billion, while revenue from premiums increased 12.4% to $64.70 billion, just above expectations of $64.67 billion. The company affirmed its guidance ranges provided in late-November for 2023 adjusted EPS of $24.40 to $24.90, which compares with the FactSet consensus of $24.94, and revenue of $357 billion to $360 billion, which surrounds expectations of $356.8 billion. The stock has lost 2.8% over the past three months through Thursday, while the SPDR Health Care Select Sector ETF has rallied 8.1% and the Dow Jones Industrial Average has climbed 13.8%.
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