UnitedHealth Group raises profit forecast on third-quarter earnings beat
UNH•UnitedHealth Group raised its 2026 adjusted profit forecast to at least $20.50 per share from at least $19.50 to $20, after third-quarter adjusted earnings of $4.69 per share beat analysts’ $4.14 estimate. Its medical cost ratio improved to 88.4%, and revenue reached $112.69 billion.
1. Forecast raised
UnitedHealth Group reported third-quarter adjusted earnings of $4.69 per share, up from $2.92 a year earlier and above the $4.14 analyst estimate. The company raised its 2026 adjusted profit forecast to at least $20.50 per share, from its previous range of at least $19.50 to $20.
2. Medical costs fall
The third-quarter medical cost ratio, the share of insurance premiums spent on medical care, was 88.4%, compared with 89.90% a year earlier and below analyst estimates. The company attributed the improvement to plan design and new pricing, alongside benefit changes and medical and operating cost controls.
3. Revenue and membership
Third-quarter revenue was $112.69 billion, above analyst expectations of about $111.4 billion, while insurance business revenue declined to $86.3 billion from $87.1 billion. Operating income rose to $6.6 billion from $4.3 billion, largely driven by improved operations in Optum Health. UnitedHealth said employer-sponsored plan membership fell by 165,000 and another 85,000 people left Medicaid, while 935,000 members exited its Medicare Advantage business since year-end 2025.
