Overview

• UnitedHealth reported Q1 2025 adjusted earnings per share of $7.20 and revenue of $109.6 billion, both falling short of analysts' expectations.
• The company reduced its full-year adjusted earnings guidance to $26–$26.50 per share, down from its previous forecast of $29.50–$30.00.
• Higher-than-expected Medicare Advantage care utilization and ongoing funding cuts drove a 0.5% rise in the medical-cost ratio to 84.8%.
• UnitedHealth's stock dropped nearly 20%, marking its worst single-day decline in over 25 years and erasing $93 billion in market value.
• The company's disappointing results also triggered sell-offs across the health insurance sector, weighing heavily on the Dow Jones Industrial Average.