Overview

• UnitedHealth reported second-quarter adjusted EPS of $4.08 versus the $4.48 analysts expected on $111.6 billion in revenue.
• The insurer trimmed its full-year 2025 outlook to at least $16 per share in adjusted earnings and $445.5 billion–$448 billion in revenue, well below Wall Street forecasts.
• Medical care ratio surged to a record 89.4% as higher utilization and unit costs outpaced pricing assumptions.
• UnitedHealth confirmed cooperation with criminal and civil Department of Justice investigations into its Medicare billing practices.
• The company will drop select Medicare Advantage plans covering more than 600,000 members as part of a broader cost and compliance reset.