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UnitedHealth Group: Q2 2022 Earnings Update

Industry: Accident & Healthcare; Payors
Current: Company Performance

UnitedHealth Group reported revenue growth of 14.4% in Q2 2022 on an annual basis
UnitedHealth Group reported GAAP earnings per share (EPS) of $5.34
All the business witnessed growth and the company’s increased its annual EPS guidance

On July 15, 2022, UnitedHealth Group reported Q2 revenue of $80.3 billion (an increase of 14.4% year-over-year) on Non-GAAP earnings per share (EPS) of $5.57.

Summary: UnitedHealth Group’s Q2 2022 revenue grew 14.4% as compared to the same period in 2021. UnitedHealth Group reports its revenues across four segments: UnitedHealthcare, Optum Health, Optum Insight, and Optum Rx.

UnitedHealthcare business grew by 12% vs 2021 owing to an increase in the number of people served and a reduction in medical and operating costs. UnitedHealthcare's total number of patients has grown by over 600,000 in 2022, including 280,000 in the second quarter.
Optum Health business grew by 32.2% vs 2021 due to continued expansion of the care services offered such as in-home care, digital, clinic-based, and outpatient services.
Optum Insight business expanded by 11% vs 2021 due to comprehensive managed services for health systems and an expanding suite of information technology and data analytics offerings.
Optum Rx business rose by 10.1% vs 2021 due to continued success in serving new clients as well as further expansion of pharmacy care services offerings.

The company reported earnings from operations of $7.1 billion during Q2 2022, a year-over-year increase of 19%. On the bottom line, the company reported a GAAP EPS of $5.34, whereas the Non-GAAP earnings came to $5.57 per share.

Guidance: For the full year 2022, UnitedHealth Group increased its guidance to:

Annual GAAP EPS expected to be between $20.45 and $20.95
Annual Non-GAAP EPS expected to be between $21.40 and $21.90

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