UNH
UnitedHealth Group Incorporated334.20
-6.90-2.02%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Details OptumHealth reset, 2027 MA risks.
Q&A shed light on OptumHealth's Q4 miss from restructuring and one-offs, resetting to a $1.5B adjusted baseline for steadier 2026 execution. Management confirmed 2026 Medicare margins up 50bps despite steeper-than-planned 1.3-1.4M losses, but warned 2027's advance notice demands benefit cuts and footprint shrinks like this year. Commercial risk shed 500k+ exchange lives at ~1% margins, with group closing half the gap to historical norms. Texas OptumHealth markets crush total care costs 30% below peers. Answers largely echoed prepared remarks. Watch 2027 MA fallout closely.
Key Stats
Market Cap
302.73BP/E (TTM)
17.42Basic EPS (TTM)
19.18Dividend Yield
0.03%Recent Filings
8-K
UNH at Barclays conference
UnitedHealth Group senior leaders will field questions on strategy, market positions, recent results, and end-market expectations at the Barclays 28th Annual Global Healthcare Conference on March 10, 2026, at 11:30 a.m. ET. Live audio webcast streams via the company's IR site. No new financials disclosed. Investors tune in.
8-K
CAO appointment announced
UnitedHealth Group appointed Dennis Stankiewicz as Chief Accounting Officer effective March 2, 2026, while he retains his Corporate Controller role held since April 2023. Tom Roos shifts from CAO since 2015 to CFO of Optum Insight on the same date. Stankiewicz gets $550,000 base salary and 85% cash bonus target. Smooth internal transition bolsters finance leadership.
10-K
FY2025 results
UnitedHealth Group's FY2025 revenues climbed 12% to $447.6B, driven by 16% growth at UnitedHealthcare from Medicare Advantage expansion and higher-acuity Medicaid, while Optum rose 7% on Optum Rx script gains; yet earnings from operations cratered 41% to $19.0B as medical care ratio ballooned to 89.1% from elevated trends, Medicare funding shortfalls, and Q4 restructuring charges totaling $2.5B including $623M loss reserves for 2026 value-based care. Optum Health swung to a $278M operating loss amid Medicare pressures and portfolio exits, while Q4 actions like real estate cuts and workforce reductions hammered margins across segments. Operating cash flows held at $19.7B; no repurchases in Q4 with 21M shares authorized remaining, quarterly dividend hiked to $8.84 annualized. CMS risk adjustment audits threaten quarterly revenue momentum.
8-K
Amends Hemsley stock option
UnitedHealth Group amended Stephen Hemsley's May 14, 2025 stock option on February 23, 2026, adding a two-year share holding requirement after three-year cliff vesting. He must hold net shares until May 14, 2030, barring death or disability. Terms otherwise unchanged. This locks in executive alignment.
8-K
2025 results, 2026 outlook issued
UnitedHealth Group reported 2025 revenues of $447.6 billion, up 12% year-over-year, but earnings plunged to $13.23 per share after a $2.8 billion Q4 charge for cyberattack costs, divestitures, and restructuring including loss contracts. Adjusted earnings hit $16.35 per share. It eyes 2026 revenues over $439.0 billion and adjusted EPS above $17.75 amid membership contraction. Restructuring sharpens focus.
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