$UNH · UnitedHealth Group Incorporated

UnitedHealth Group reported third quarter 2026 revenues of $112.7 billion and earnings from operations of $6.6 billion, with a net margin of 3.6 percent. Earnings were $4.56 per share, while adjusted earnings were $4.69 per share. Cash flows from operations totaled $5.1 billion, or 1.2 times net income. The medical cost ratio was 88.4 percent, and the operating cost ratio was 12.8 percent, down from 13.5 percent a year earlier. UnitedHealthcare served 48.3 million consumers and generated $86.3 billion in revenues and $2.8 billion in earnings, while Optum cared for more than 120 million patients and consumers and drove $66.9 billion in revenues and $3.7 billion in earnings.

The company raised its full-year 2026 outlook to at least $19.50 per share and adjusted earnings of at least $20.50 per share. The filing also detailed several operational and policy commitments, including a $1 billion United Health Foundation initiative, voluntary elimination and rebating of profits from individual Affordable Care Act coverage in 2026, expanded rural hospital support, doula coverage for employer-sponsored plans, and reductions in prior approval requirements. In pharmacy benefits, the company announced a fully transparent fee-based model, a commitment to pass through all manufacturer drug rebate discounts to clients by January 1, 2028, and reductions in drug reauthorizations. The company also described governance changes, including a new Public Responsibility Committee and refreshed leadership roles.