Released
FY2026 Q1
Earnings ReviewUNH
UnitedHealth Group
UnitedHealth Group · Healthcare/Insurance
Tue, April 21, 2026·Before Market Open
UnitedHealthUNHHealthcareQ1 EarningsEPS Beat
Wall Street Consensus
EPS$6.65
Revenue$109.57B
Earnings Results
EPS
$7.23
+8.7%
Revenue
$111.7B
+1.9%
After-Hours Reaction+7.93% (MCR improvement and raised guidance)
Key Takeaways
- Adj. EPS $7.23 — beat consensus $6.65 by +8.7%
- Revenue $111.7B (+2% YoY) — beat consensus $109.57B
- Medical Cost Ratio (MCR) 83.9% — improved 90bp from 84.8% YoY, better than expected 85.5%
- UnitedHealthcare revenue $86.3B, operating margin improved to 6.6%
- Optum revenue $63.7B, operating profit $3.3B (margin 5.2%)
Key Checkpoints
- 01Revenue growth rate
- 02EPS beat/miss
- 03Medical Cost Ratio (MCR)
- 04Guidance
Upside Catalysts
- Optum growth
- Medicare Advantage expansion
- Cost efficiency improvements
Risk Factors
- Healthcare cost inflation
- Medicare policy changes
- Intensifying competition
- Regulatory risk
1Earnings Summary
UnitedHealth Group (UNH) FY2026 Q1 Earnings Released.
Adj. EPS: $7.23 (vs. consensus $6.65, +8.7% beat) Diluted EPS: $6.90 Revenue: $111.7B (+2% YoY)
### Medical Cost Ratio
- MCR 83.9% — improved 90bp from 84.8% YoY
- 160bp better than analyst expectation of 85.5%
- AI-based cost management and claims optimization driving improvement
### Segment Performance
- UnitedHealthcare: Revenue $86.3B (+2% YoY), operating margin 6.6% (vs. 6.2% YoY)
- Optum: Revenue $63.7B, operating profit $3.3B (margin 5.2%)
- Optum Rx: Revenue $35.7B (+2% YoY), specialty pharmacy growth
### FY2026 Guidance Raised
- EPS: >$17.35 (raised)
- Adj. EPS: >$18.25 (from >$17.75)
SEPS 서프라이즈 히스토리
Beat1Miss0Beat률 100%
분기별 EPS 컨센서스 대비 서프라이즈(%) — 막대: EPS, 점선: 매출