UnitedHealth stock gains after profit, revenue rise above expectations


Shares of UnitedHealth Group Inc. UNH, -1.64% rose 0.3% in premarket trading Wednesday, after the health insurer reported fourth-quarter profit and revenue that rose above expectations and affirmed its full-year outlook. Net income increased to $4.07 billion, or $4.26 a share, from $2.21 billion, or $2.30 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share came to $4.48, above the FactSet consensus of $4.30. Revenue grew 12.6% to $73.74 billion, topping the FactSet consensus of $72.98 billion, as premiums increased 13.8% to $57.55 billion. Operating costs rose 10.1% to $68.20 billion, with medical costs growing 14.4% to $48.16 billion. The company affirmed its 2022 guidance ranges for adjusted earnings per share of $21.10 to $21.60 and for revenue of $317 billion to $320 billion, which compares with the FactSet consensus for EPS of $21.63 and revenue of $316.8 billion. The stock has gained 8.6% over the past three months through Tuesday, while the SPDR Health Care Select Sector ETF XLV, -1.40% has tacked on 2.7% and the Dow Jones Industrial Average DJIA, -1.51% has slipped 0.3%.

This article was originally published by Marketwatch.com. Read the original article here.

Previous articleKey Words: Leading Tesla shareholder makes public request for deliveries guidance above Wall Street estimates
Next articleIEA sees 2022 global oil demand exceeding levels seen before the pandemic


Please enter your comment!
Please enter your name here