Overview

• UnitedHealth posted second-quarter adjusted EPS of $4.08 versus analysts’ $4.48 estimate and revenue of $111.6 billion.
• The company slashed its 2025 earnings outlook to at least $16 per share and set revenue guidance at $445.5 billion to $448 billion, trailing Wall Street projections.
• Record medical costs drove the insurer’s medical care ratio up to 89.4%, a 430-basis-point increase from a year earlier.
• UnitedHealth confirmed it is the subject of Department of Justice investigations into its Medicare billing practices.
• Under Hemsley’s leadership, the company will drop plans serving over 600,000 members and targets a return to earnings growth in 2026.