UnitedHealth Lifts Profit Targets on Stronger Sales
July 18 2019 - 8:03AM
Dow Jones News
By Kimberly Chin
UnitedHealth Group Inc. boosted its 2019 earnings targets after
reporting a strong first half of the year, driven by broader sales
growth in premiums, products and services.
The full-year earnings outlook was bumped up to $13.95 to $14.15
a share, up from its previous forecast of $13.80 to $14.05 a share.
Adjusted earnings are expected to come in between $14.70 to $14.90
a share, compared with earlier projections of $14.50 to $14.75 a
share.
The parent of the nation's largest health insurer said profit
climbed 13% from a year earlier to $3.29 billion, or $3.42 a share.
Analysts polled by FactSet expected earnings of $3.28 a share.
UnitedHealth posted an adjusted profit of $3.60 a share, topping
analysts' estimates of $3.45 a share.
Overall revenue rose 8% to $60.6 billion from a year ago.
Analysts were looking for $60.55 billion. Revenue from the
UnitedHealthcare segment rose 6% to $48.59 billion and sales from
its Optum segment increased 13% to $28.03 billion.
UnitedHealth's shares jumped 1.7% premarket on low trading
volume.
(END) Dow Jones Newswires
July 18, 2019 08:48 ET (12:48 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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