UnitedHealth 1Q Revenue, Profit Grow as Membership Expands
April 15 2021 - 5:50AM
Dow Jones News
By Matt Grossman
UnitedHealth Group Inc. on Thursday posted a larger profit and
stronger revenue year over year in the first quarter, as growth in
the Medicare and Medicaid businesses contributed to overall
expansion of the company's membership base.
The Minnetonka, Minn.-based health insurer logged earnings per
share attributable to common shareholders of $5.08, up from $3.52
in the year-ago quarter. Overall net earnings were $4.86 billion,
up from $3.38 billion a year earlier.
On an adjusted basis, the company's first-quarter earnings were
$5.31 a share. Analysts surveyed by FactSet had forecast adjusted
earnings of $4.39 a share.
Revenue was $70.2 billion, an improvement from $64.42 billion in
last year's first quarter. Analysts had forecast revenue of $69.07
billion.
The number of people served by the company's plans grew by more
than 1 million to 49.5 million, UnitedHealth said. Strong Medicare
Advantage membership growth during the annual enrollment period
helped drive the company's growth, along with other Medicare and
Medicaid program expansions and growth in speciality products, such
as dental and vision benefits, UnitedHealth said.
Revenue for UnitedHealth's Optum business grew nearly 11% to
$36.4 billion.
Write to Matt Grossman at matt.grossman@wsj.com
(END) Dow Jones Newswires
April 15, 2021 06:35 ET (10:35 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
UnitedHealth (NYSE:UNH)
Historical Stock Chart
From Apr 2024 to May 2024
UnitedHealth (NYSE:UNH)
Historical Stock Chart
From May 2023 to May 2024