UnitedHealth Group (NYSE:UNH) beat market estimates on both revenue and earnings for the first quarter of 2019, allowing the stock to gain by 2.8% in premarket hours on Tuesday.
Total revenues grew 9.3% year-over-year to $60.3 billion, driven by UnitedHealthcare Medicare & Retirement, OptumRx and OptumHealth.
Net earnings attributable to UnitedHealth Group common shareholders rose to $3.4 billion, or $3.56 per share, from $2.8 billion, or $2.87 per share, in the year-ago period. Adjusted EPS grew 22.7% to $3.73.
Premiums totaled $47.5 billion in the quarter, up from $44 billion in the same period last year. The consolidated medical care ratio was 82%, reflecting an increase of 60 basis points year-over-year, mainly driven by the revenue effect from the deferral of the health insurance tax. Days claims payable was 49 days.
In the UnitedHealthcare segment, revenues grew 7.6% year-over-year to $48.9 billion, helped by revenue increases in all its divisions. Optum revenues increased 11.7% year-over-year to $26.4 billion, driven by growth across all units.
OptumHealth revenues grew 16.6% year-over-year, driven by momentum in care delivery, behavioural health, and health financial services. OptumRx revenues grew 10.6% year-over-year, reflecting increased script volumes and a higher mix of specialty drugs.
The company raised its earnings outlook for full-year 2019 and now expects GAAP EPS of $13.80 to $14.05 and adjusted EPS of $14.50 to $14.75.
Last month, the IPO market was in a full swing. IPOs of Snowflake (NYSE: SNOW) and JFROG (NASDAQ: FROG) had an impressive opening day in September, the former creating a
PepsiCo Inc. (NASDAQ: PEP) beat market expectations on both revenue and earnings for the third quarter of 2020. The company saw the momentum continue in its snacks business while the
With more and more people turning to virtual entertainment sources, amid the virus-related movement restrictions, video game publishers like Electronic Arts (NASDAQ: EA) are witnessing unusually high demand. Not surprisingly,