UNITEDHEALTH GROUP REPORTS STRONG PROFITS FOR THE FIRST QUARTER OF 2021, BEATING ANALYSTS' EXPECTATIONS

UnitedHealth Group reported strong profits for the first quarter of 2021 beating analysts’ expectations. UnitedHealth Group posted profits of $4.9 billion for the first quarter of 2021, up from $3.4 billion for the first quarter of 2020. UnitedHealth Group also posted increased revenues of $70.2 billion for the first quarter of 2021, up from $64.4 billion in the first quarter of last year, a 9% increase.

In an earnings call, UnitedHealth Group described its earnings as “balanced” between UnitedHealthcare and Optum. UnitedHealthcare reported revenues of $55.1 billion for the first quarter, up from $51.1 billion for the first quarter of 2020, a 7.9% increase. UnitedHealthcare’s strong earnings were due primarily to its community and senior market segments, including its Medicare Advantage plans. UnitedHealthcare reported gaining 1,000,000 customers in the first quarter.

Optum also reported increased revenues year over year, with $36.4 billion in revenues for the first quarter of 2021, up from $32.4 billion in the first quarter of 2020, a 10.8 % increase.

As a result of its strong earnings, UnitedHealth Group increased its earnings forecast to between $18.10 and $18.60 a share.

A Fierce Healthcare article on UnitedHealth Group’s earnings, entitled “UnitedHealth Group beats the street with $4.9 billion in Q1 profits,” is linked here.