UnitedHealth Beats Q2 Earnings Estimates with $6.80 EPS, $98.9B Revenue, Reaffirms 2024 Outlook

Jul 16, 2024, 10:06 AM

UnitedHealth Group (UNH) reported strong second-quarter 2024 earnings, with adjusted EPS of $6.80, surpassing analyst estimates of $6.66 and the WhisperNumber community's expectation of $6.87. Revenue also exceeded expectations, reaching $98.9 billion compared to the forecasted $98.84 billion, marking a 6.5% year-over-year increase. The company reaffirmed its full-year adjusted EPS guidance of $27.50 to $28.00. Despite the positive earnings, UnitedHealth's stock saw mixed reactions due to higher-than-anticipated medical costs and the impact of a cyberattack. The cyberattack is estimated to have a total impact of $0.92 per share for the quarter and between $1.90 to $2.05 per share for the full year. Additionally, UnitedHealth plans to sell its remaining South American operations. Operating cash flow for the quarter was $6.7 billion.