During the second quarter of 2020, UnitedHealth Group (NYSE:
UNH) expanded its COVID-19 response efforts, proactively supporting
patients, customers, care providers and communities, including
investing in outreach programs and clinical innovations to address
the urgent needs of underserved communities disproportionately
impacted by the disease.
“Our 325,000 dedicated team members, including the 120,000
clinicians serving on the front lines of care, have tirelessly
responded to COVID-19 with agility, innovation and compassion,”
said David S. Wichmann, chief executive officer of UnitedHealth
Group. “We moved swiftly to assist the people we serve and their
care providers, including the provision of $3.5 billion in
proactive voluntary customer assistance and accelerated care
provider funding. We remain committed to taking further actions to
address any future imbalances as a result of the pandemic.”
Second quarter 2020 net earnings and adjusted net earnings per
share of $6.91 and $7.12 were substantially higher than anticipated
due primarily to the unprecedented, temporary deferral of care in
the Company’s risk-based businesses. The Company expects these
results will be offset in the quarters ahead by the assistance
measures already taken, the resumption of deferred care and future
COVID-19 cost and economic impacts. As the pandemic advanced,
access to and demand for care was most constrained from mid-March
through April, began to recover in May and approached more typical
levels by the end of the second quarter. The Company is maintaining
its full year earnings per share outlook for 2020 of net earnings
of $15.45 to $15.75 per share and adjusted net earnings of $16.25
to $16.55 per share.
Investments by the Company to support those affected by COVID-19
include extensive local market relief efforts, innovative health
workforce safety initiatives, treatment and testing innovations and
support for seniors and individuals experiencing homelessness and
food insecurity. Building on years of investments in support of
advancing health equity, the Company invested another $100 million
in affordable housing to address homelessness and led numerous
additional efforts to increase the availability of testing and
treatment for COVID-19, including establishing more than 500
testing centers in underserved communities, deploying free COVID-19
mobile and local testing sites, health and safety kits, and
education and outreach resources to underserved communities. The
Company is also leading innovative clinical research to study the
elevated risks and treatment options for COVID-19 associated with
health conditions that disproportionately impact minority
populations. A summary of the Company’s COVID-19 response to date
is included as part of this release.
Quarterly Financial Performance
Three
Months Ended
June 30,
2020
June 30,
2019
March 31,
2020
Revenues
$62.1 billion
$60.6 billion
$64.4 billion
Earnings from Operations
$9.2 billion
$4.7 billion
$5.0 billion
Net Margin
10.7%
5.4%
5.2%
- UnitedHealth Group’s second quarter 2020 revenues increased
$1.5 billion to $62.1 billion, reflecting growth at Optum and the
UnitedHealthcare public-sector and senior businesses, partially
offset by economic-related impacts at UnitedHealthcare commercial
and global.
- Second quarter earnings from operations increased $4.5 billion
to $9.2 billion, impacted primarily by the previously described
deferred care in the risk-based businesses, with this care expected
to be delivered in future periods.
- Cash flows from operations were $10.0 billion or 1.5 times net
income in the second quarter and $12.9 billion or 1.3 times net
income year to date.
- The second quarter medical care ratio was impacted by the
temporary deferral of care due to the pandemic, declining to 70.2%
from 83.1% last year. The Company expects the medical care ratio to
rise in coming quarters as needed care is accessed. Favorable
reserve development was $1.4 billion in the second quarter, nearly
all related to the current year, and primarily due to higher than
expected care deferrals in late March, further lowering the second
quarter medical care ratio. Days claims payable were 50.4 days
compared to 48.6 in the second quarter 2019 and 50.5 in the first
quarter 2020.
- The operating cost ratio of 16.1% in the second quarter of 2020
increased from 13.9% in the same period last year, primarily due to
the health insurance tax, COVID-19 response efforts and business
mix.
- The Company returned $1.2 billion to shareholders in the second
quarter via dividends, while the debt to total capital ratio was
40.9% at quarter end. Return on equity of 33.7% for the first half
of 2020 reflects continued strong core operating performance and
the temporary impact of care deferrals experienced during the
second quarter 2020.
UnitedHealthcare provides global health care benefits, serving
individuals and employers, and Medicare and Medicaid beneficiaries.
UnitedHealthcare is dedicated to improving the value health care
consumers receive by reducing the total cost of care, enhancing the
quality of care received, improving health and wellness and
simplifying the health care experience.
Quarterly Financial Performance
Three
Months Ended
June 30,
2020
June 30,
2019
March 31,
2020
Revenues
$49.1 billion
$48.6 billion
$51.1 billion
Earnings from Operations
$7.0 billion
$2.6 billion
$2.9 billion
Operating Margin
14.3%
5.4%
5.7%
- UnitedHealthcare second quarter revenues of $49.1 billion
compare to $48.6 billion in the year ago quarter, as growth in
serving public-sector and senior programs was partially offset by
commercial enrollment declines. UnitedHealthcare public-sector and
senior program revenue, including Medicare and Medicaid, grew by 7%
year-over-year in the quarter and by nearly 600,000 additional
people served year to date, while commercial revenue was impacted
by economic-driven member attrition.
- Operating earnings of $7.0 billion compare to last year’s $2.6
billion, with comparatively higher growth and operating margins
compared to prior periods driven by the temporary impact of
deferred care, net of COVID-19 treatment costs and the initial
impact of a decelerating economy. The Company expects future
quarters will reflect the restoration of care patterns and the
impact of its $1.5 billion in customer assistance actions against
the backdrop of an uncertain economic recovery.
- Further UnitedHealthcare growth highlights include: Medicaid
business wins in Kentucky and Indiana; continued growth in serving
people in dual special needs plans; gains in serving individuals’
health benefits needs in the commercial marketplace; and launch of
GetCovered, a national, multicarrier service offering consumers
information, guidance, enrollment, support and affordable coverage
across 200 independent individual health and local Medicaid plans
supported by the Company’s HealthMarkets benefits
representatives.
Optum is a health services business serving the global health
care marketplace, including payers, care providers, employers,
governments, life sciences companies and consumers. Using
market-leading information, data analytics, technology and clinical
insights, Optum helps improve overall health system performance:
optimizing care quality, reducing health care costs and improving
the consumer experience.
Quarterly Financial Performance
Three
Months Ended
June 30,
2020
June 30,
2019
March 31,
2020
Revenues
$32.7 billion
$28.0 billion
$32.8 billion
Earnings from Operations
$2.2 billion
$2.1 billion
$2.1 billion
Operating Margin
6.8%
7.5%
6.4%
- Optum second quarter revenues and operating earnings of $32.7
billion and $2.2 billion respectively advanced from $28.0 billion
and $2.1 billion a year ago, led by earnings growth at
OptumHealth.
- OptumHealth served approximately 97 million people in the
second quarter, compared to 95 million a year ago, while revenue
per consumer served grew 25% year-over-year driven by continued
growth in value-based care arrangements. The OptumHealth care
delivery practices were impacted early in the quarter due to the
pandemic. By June, care patterns had returned to near normal
levels. Over the course of the quarter, the Company accelerated the
growth of its employed and affiliated physicians at OptumCare.
- The OptumInsight revenue backlog rose to $19.4 billion at
quarter end, an increase of nearly $1 billion year-over-year,
driven by growth in technology and managed services across the
business. Activity levels within OptumInsight’s volume-based
services were negatively affected by care deferrals.
- At OptumRx, diversified growth in areas such as home infusion
services, community-based behavioral health pharmacies, e-commerce
and specialty pharmaceuticals partially offset the negative impact
of reduced first fill prescription volumes, driven by COVID-19
related care deferral. As care delivery activity has been
recovering over the course of the quarter, script volumes have
begun to return to more normal levels.
- Further Optum growth highlights include: extending geographic
presence and distinctive capabilities through strategic
acquisitions in infusion services (Diplomat Pharmacy), post-acute
care (NaviHealth) and digital behavioral health (AbleTo); launching
the Boulder Community Health partnership; providing testing
services in California, Indiana and Florida; and launching digital
at home and rare disease pharmacy programs.
COVID-19 Response to Date
Coronavirus (COVID-19) is profoundly impacting the health of
people around the world, as well as our global economies. The
safety and health of the people we serve, our team members, their
families, our stakeholders, broader communities and the reliability
of our health care systems consume our resources and our focus.
Care of Our Team Members
- Within days, 90% of our nonclinical workforce was temporarily
transitioned to a work at home status while maintaining all service
levels.
- We increased compensation for our front-line clinical workforce
in high incidence communities.
Serving Customers, Members and
Patients
- Provided $1.5 billion in direct customer and consumer support
through premium credits, cost-sharing waivers and other efforts.
Expect another $1 billion in rebates to be paid in future
periods.
- Accelerated nearly $2 billion of payments to care providers to
provide needed liquidity for the health system.
- Waived all cost sharing for COVID-19 diagnosis and
treatment.
- Provided unlimited free telehealth services.
- Removed all COVID-19 prior authorizations.
- Provided early refills, extended authorizations and increased
home delivery options of medication to ensure no shortages.
- Extended grace periods for employers and individuals to pay
premiums.
- Deployed triage tools, including a symptom checker with next
best action recommendations.
- Shifted more than 14,000 OptumCare physicians to telehealth for
patient visits that would have otherwise been canceled.
- Deployed 700 Advance Practice Clinicians to expand telehealth
services.
- Introduced a special enrollment period to allow commercial
customers to add employees who previously declined health benefit
coverage.
- Hired by California, Indiana and Jacksonville, Florida to
expand COVID-19 testing, with an emphasis on serving underserved
communities.
- Increased the number of behavioral health professionals using
our proprietary online behavioral health platform by 45% to more
than 10,000.
- Developed a cash discount option for members who have lost
pharmacy benefit coverage.
- Facilitated infusion services to the home that were
traditionally administered in hospital or clinic settings.
Serving Society
- Selected by HHS to assist in processing and distributing $100
billion CARES Act funding to care delivery providers.
- Joined forces with Microsoft to launch ProtectWell,™ an
innovative return-to-workplace protocol that enables employers to
bring employees back to the workplace.
- Developed and tested a new FDA approved self-administered
COVID-19 swab protocol and led a study resulting in FDA approval
for the use of alternative swab materials, providing more options
for sample collection.
- Published a study with Yale School of Medicine that showed the
use of ACE inhibitors was associated with an almost 40% lower risk
of COVID-19 hospitalization for Medicare Advantage patients.
- Conducting a first of its kind 10,000-person virtual clinical
trial with Yale Medical School to examine the potential role of ACE
inhibitors in preventing severe consequences of COVID-19.
- Partnering with the Morehouse School of Medicine to study the
effect of sickle cell trait, which is prevalent in 8-10% of Black
Americans, on COVID-19.
- Partnered with Boston Scientific, Medtronic and the University
of Minnesota to develop and deploy 3,000 “light ventilators” to
address critical shortages.
- Donated $5 million to accelerate and expand Mayo Clinic’s study
of convalescent plasma treatments.
- Opened free access to our mental health mobile app and 24/7
emotional support phone lines.
- Provided more than $100 million in support to date to those
affected by COVID-19, including community relief efforts, health
workforce safety, seniors, and individuals experiencing
homelessness and food insecurity.
- Scaled a mobile and local testing program to address health
disparities and meet the unique needs of disadvantaged communities
in Los Angeles, Philadelphia and Orleans Parish.
- Announced that we will not request, nor do we intend to retain,
any government assistance.
About UnitedHealth Group
UnitedHealth Group (NYSE: UNH) is a diversified health care
company dedicated to helping people live healthier lives and
helping make the health system work better for everyone.
UnitedHealth Group offers a broad spectrum of products and services
through two distinct platforms: UnitedHealthcare, which provides
health care coverage and benefits services; and Optum, which
provides information and technology-enabled health services. For
more information, visit UnitedHealth Group at
www.unitedhealthgroup.com or follow @UnitedHealthGrp on
Twitter.
Earnings Conference Call
As previously announced, UnitedHealth Group will discuss the
company’s results, strategy and future outlook on a conference call
with investors at 8:45 a.m. Eastern Time today. UnitedHealth Group
will host a live webcast of this conference call from the Investor
Relations page of the company’s website
(www.unitedhealthgroup.com). Following the call, a webcast replay
will be available on the same site through July 29, 2020. The
conference call replay can also be accessed by dialing
1-800-688-7339. This earnings release and the Form 8-K dated July
15, 2020, can also be accessed from the Investor Relations page of
the company’s website.
Non-GAAP Financial
Information
This news release presents non-GAAP financial information
provided as a complement to the results provided in accordance with
accounting principles generally accepted in the United States of
America (“GAAP”). A reconciliation of the non-GAAP financial
information to the most directly comparable GAAP financial measure
is provided in the accompanying tables found at the end of this
release.
Forward-Looking
Statements
The statements, estimates, projections, guidance or outlook
contained in this document include “forward-looking” statements
which are intended to take advantage of the “safe harbor”
provisions of the federal securities law. The words “believe,”
“expect,” “intend,” “estimate,” “anticipate,” “forecast,”
“outlook,” “plan,” “project,” “should” and similar expressions
identify forward-looking statements. These statements may contain
information about financial prospects, economic conditions and
trends and involve risks and uncertainties. Actual results could
differ materially from those that management expects, depending on
the outcome of certain factors including: risks associated with
public health crises, large-scale medical emergencies and
pandemics, such as the COVID-19 pandemic; our ability to
effectively estimate, price for and manage medical costs; new or
changes in existing health care laws or regulations, or their
enforcement or application; the DOJ’s legal action relating to the
risk adjustment submission matter; our ability to maintain and
achieve improvement in quality scores impacting revenue; reductions
in revenue or delays to cash flows received under government
programs; changes in Medicare, the CMS star ratings program or the
application of risk adjustment data validation audits; failure to
maintain effective and efficient information systems or if our
technology products do not operate as intended; cyberattacks, other
privacy/data security incidents, or our failure to comply with
related regulations; risks and uncertainties associated with the
pharmacy benefits management industry; competitive pressures;
changes in or challenges to our public sector contract awards; our
ability to contract on competitive terms with physicians, hospitals
and other service providers; failure to achieve targeted operating
cost productivity improvements; increases in costs and other
liabilities associated with litigation, government investigations,
audits or reviews; failure to manage successfully our strategic
alliances or complete or receive anticipated benefits of strategic
transactions; fluctuations in foreign currency exchange rates;
downgrades in our credit ratings; our investment portfolio
performance; impairment of our goodwill and intangible assets; and
our ability to obtain sufficient funds from our regulated
subsidiaries or from external financings to fund our obligations,
maintain our debt to total capital ratio at targeted levels,
maintain our quarterly dividend payment cycle, or continue
repurchasing shares of our common stock. This above list is not
exhaustive. We discuss these matters, and certain risks that may
affect our business operations, financial condition and results of
operations more fully in our filings with the SEC, including our
reports on Forms 10-K, 10-Q and 8-K. By their nature,
forward-looking statements are not guarantees of future performance
or results and are subject to risks, uncertainties and assumptions
that are difficult to predict or quantify. Actual results may vary
materially from expectations expressed or implied in this document
or any of our prior communications. You should not place undue
reliance on forward-looking statements, which speak only as of the
date they are made. We do not undertake to update or revise any
forward-looking statements, except as required by law.
UNITEDHEALTH GROUP Earnings Release Schedules and
Supplementary Information Quarter Ended June 30, 2020 -
Condensed Consolidated Statements of Operations - Condensed
Consolidated Balance Sheets - Condensed Consolidated Statements of
Cash Flows - Supplemental Financial Information - Businesses -
Supplemental Financial Information - Business Metrics -
Reconciliation of Non-GAAP Financial Measure
UNITEDHEALTH
GROUP CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in millions, except per share data) (unaudited)
Three Months Ended June
30,
Six Months Ended June
30,
2020
2019
2020
2019
Revenues Premiums
$
49,394
$
47,164
$
100,034
$
94,677
Products
8,247
8,353
16,678
16,425
Services
4,156
4,496
9,141
8,814
Investment and other income
341
582
706
987
Total revenues
62,138
60,595
126,559
120,903
Operating costs Medical costs
34,678
39,184
75,678
78,123
Operating costs
10,001
8,415
20,016
16,932
Cost of products sold
7,501
7,598
15,188
14,979
Depreciation and amortization
717
654
1,440
1,293
Total operating costs
52,897
55,851
112,322
111,327
Earnings from operations
9,241
4,744
14,237
9,576
Interest expense
(430
)
(418
)
(867
)
(818
)
Earnings before income taxes
8,811
4,326
13,370
8,758
Provision for income taxes
(2,115
)
(941
)
(3,209
)
(1,816
)
Net earnings
6,696
3,385
10,161
6,942
Earnings attributable to noncontrolling interests
(59
)
(92
)
(142
)
(182
)
Net earnings attributable to UnitedHealth Group common
shareholders
$
6,637
$
3,293
$
10,019
$
6,760
Diluted earnings per share attributable to UnitedHealth Group
common shareholders
$
6.91
$
3.42
$
10.43
$
6.97
Adjusted earnings per share attributable to UnitedHealth Group
common shareholders (a)
$
7.12
$
3.60
$
10.84
$
7.33
Diluted weighted-average common shares outstanding
960
964
961
970
(a) See page 6 for a
reconciliation of the non-GAAP measure
UNITEDHEALTH GROUP CONDENSED CONSOLIDATED BALANCE
SHEETS (in millions) (unaudited)
June 30,
December 31,
2020
2019
Assets Cash and short-term investments
$
25,593
$
14,245
Accounts receivable, net
12,546
11,822
Other current assets
20,779
16,567
Total current assets
58,918
42,634
Long-term investments
36,778
37,209
Other long-term assets
96,787
94,046
Total assets
$
192,483
$
173,889
Liabilities, redeemable noncontrolling interests and
equity Medical costs payable
$
19,200
$
21,690
Short-term borrowings and current maturities of long-term debt
6,156
3,870
Other current liabilities
44,527
36,222
Total current liabilities
69,883
61,782
Long-term debt, less current maturities
39,901
36,808
Other long-term liabilities
14,342
13,137
Redeemable noncontrolling interests
1,842
1,726
Equity
66,515
60,436
Total liabilities, redeemable noncontrolling interests and equity
$
192,483
$
173,889
UNITEDHEALTH GROUP CONDENSED CONSOLIDATED STATEMENTS OF
CASH FLOWS (in millions) (unaudited)
Six Months Ended June
30,
2020
2019
Operating Activities Net earnings
$
10,161
$
6,942
Noncash items: Depreciation and amortization
1,440
1,293
Deferred income taxes and other
238
68
Share-based compensation
388
398
Net changes in operating assets and liabilities
719
407
Cash flows from operating activities
12,946
9,108
Investing Activities Sales and maturities of investments,
net of purchases (purchases, net of sales and maturities)
573
(1,654
)
Purchases of property, equipment and capitalized software
(920
)
(977
)
Cash paid for acquisitions, net
(3,952
)
(4,751
)
Other, net
(186
)
504
Cash flows used for investing activities
(4,485
)
(6,878
)
Financing Activities Common share repurchases
(1,691
)
(4,501
)
Dividends paid
(2,212
)
(1,884
)
Net change in short-term borrowings and long-term debt
5,215
5,674
Other, net
1,712
1,354
Cash flows from financing activities
3,024
643
Effect of exchange rate changes on cash and cash equivalents
(143
)
6
Increase in cash and cash equivalents
11,342
2,879
Cash and cash equivalents, beginning of period
10,985
10,866
Cash and cash equivalents, end of period
$
22,327
$
13,745
UNITEDHEALTH GROUP SUPPLEMENTAL FINANCIAL INFORMATION -
BUSINESSES (in millions, except percentages) (unaudited)
Three Months Ended June
30,
Six Months Ended June
30,
2020
2019
2020
2019
Revenues UnitedHealthcare
$
49,107
$
48,594
$
100,175
$
97,490
Optum
32,695
28,029
65,534
54,389
Eliminations
(19,664
)
(16,028
)
(39,150
)
(30,976
)
Total consolidated revenues
$
62,138
$
60,595
$
126,559
$
120,903
Earnings from Operations UnitedHealthcare
$
7,007
$
2,642
$
9,895
$
5,596
Optum (a)
2,234
2,102
4,342
3,980
Total consolidated earnings from operations
$
9,241
$
4,744
$
14,237
$
9,576
Operating Margin UnitedHealthcare
14.3
%
5.4
%
9.9
%
5.7
%
Optum
6.8
%
7.5
%
6.6
%
7.3
%
Consolidated operating margin
14.9
%
7.8
%
11.2
%
7.9
%
Revenues UnitedHealthcare Employer & Individual
$
12,963
$
14,032
$
27,243
$
28,116
UnitedHealthcare Medicare & Retirement
22,855
20,855
46,007
41,951
UnitedHealthcare Community & State
11,523
11,186
22,976
22,368
UnitedHealthcare Global
1,766
2,521
3,949
5,055
OptumHealth
$
9,139
$
7,148
$
18,331
$
13,861
OptumInsight
2,632
2,339
5,126
4,528
OptumRx
21,371
18,923
42,928
36,740
Optum eliminations
(447
)
(381
)
(851
)
(740
)
(a)
Earnings from operations for
Optum for the three and six months ended June 30, 2020 included
$841 and $1,553 for OptumHealth; $561 and $1,097 for OptumInsight;
and $832 and $1,692 for OptumRx, respectively. Earnings from
operations for Optum for the three and six months ended June 30,
2019 included $688 and $1,314 for OptumHealth; $525 and $957 for
OptumInsight; and $889 and $1,709 for OptumRx, respectively.
UNITEDHEALTH GROUP SUPPLEMENTAL FINANCIAL INFORMATION -
BUSINESS METRICS UNITEDHEALTHCARE CUSTOMER
PROFILE (in thousands)
People Served June 30,
2020 March 31, 2020 December 31, 2019 June 30,
2019 Commercial: Risk-based
8,065
8,215
8,575
8,325
Fee-based
18,705
18,825
19,185
19,090
Total Commercial
26,770
27,040
27,760
27,415
Medicare Advantage
5,605
5,575
5,270
5,190
Medicaid
6,210
5,880
5,900
6,360
Medicare Supplement (Standardized)
4,450
4,440
4,500
4,495
Total Public and Senior
16,265
15,895
15,670
16,045
Total UnitedHealthcare - Domestic Medical
43,035
42,935
43,430
43,460
Global
5,365
5,605
5,720
6,070
Total UnitedHealthcare - Medical
48,400
48,540
49,150
49,530
Supplemental Data Medicare Part D stand-alone
4,120
4,150
4,405
4,430
OPTUM PERFORMANCE METRICS June 30,
2020 March 31, 2020 December 31, 2019 June 30,
2019 OptumHealth Consumers Served (in millions)
97
96
96
95
OptumInsight Contract Backlog (in billions)
$19.4
$19.2
$19.3
$18.5
OptumRx Quarterly Adjusted Scripts (in millions)
316
339
333
343
Note: UnitedHealth Group served 139 million unique
individuals across all businesses at June 30, 2020.
UNITEDHEALTH
GROUP RECONCILIATION OF NON-GAAP FINANCIAL MEASURE (in
millions, except per share data) (unaudited)
ADJUSTED NET
EARNINGS PER SHARE(a)
Three Months Ended June
30,
Six Months Ended June
30,
Projected Year Ended December
31,
2020
2019
2020
2019
2020(b)
GAAP net earnings attributable to UnitedHealth Group common
shareholders
$
6,637
$
3,293
$
10,019
$
6,760
$14,750 - $15,050
Intangible amortization
267
240
532
467
~1,025
Tax effect of intangible amortization
(65
)
(60
)
(130
)
(116
)
~(250)
Adjusted net earnings attributable to UnitedHealth Group common
shareholders
$
6,839
$
3,473
$
10,421
$
7,111
$15,525 - $15,825
GAAP diluted earnings per share
$
6.91
$
3.42
$
10.43
$
6.97
$15.45 - $15.75
Intangible amortization per share
0.28
0.24
0.55
0.48
~1.05
Tax effect per share of intangible amortization
(0.07
)
(0.06
)
(0.14
)
(0.12
)
~(0.25)
Adjusted diluted earnings per share
$
7.12
$
3.60
$
10.84
$
7.33
$16.25 - $16.55
(a)
Adjusted net earnings per share
is a non-GAAP financial measure. Non-GAAP financial measures should
be considered in addition to, but not as a substitute for, or
superior to, financial measures prepared in accordance with
GAAP.
Adjusted net earnings per share
excludes from the relevant GAAP metric, as applicable, intangible
amortization and other items, if any, that do not relate to the
Company's underlying business performance. Management believes that
the use of adjusted net earnings per share provides investors and
management useful information about the earnings impact of
acquisition-related intangible asset amortization. As amortization
fluctuates based on the size and timing of the Company’s
acquisition activity, management believes this exclusion provides a
more useful comparison of the Company's underlying business
performance and trends from period to period. While intangible
assets contribute to the Company’s revenue generation, the
intangible amortization is not directly related. Therefore, the
related revenues are included in adjusted earnings per share.
(b)
Maintained from March 31,
2020.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200715005287/en/
Investors: Brett Manderfeld Senior Vice President
952-936-7216
Media: Matt Stearns Senior Vice President
202-276-0085
UnitedHealth (NYSE:UNH)
Historical Stock Chart
From Aug 2024 to Sep 2024
UnitedHealth (NYSE:UNH)
Historical Stock Chart
From Sep 2023 to Sep 2024