The earnings call highlighted significant revenue growth and client retention at OptumRx but was overshadowed by major challenges in Medicare and Medicaid cost management, as well as operational and performance issues at Optum Health. The company's commitment to reform and performance improvement was emphasized, but the financial outlook remains constrained by these substantial challenges.

Company Guidance -

Q3 2025

During the UnitedHealth Group's Second Quarter 2025 earnings call, several metrics were discussed, reflecting the company's revised financial outlook and operational challenges. UnitedHealth reported revenues of nearly $112 billion, a 13% increase year-over-year, while adjusted earnings per share fell to $4.08. The company faces $6.5 billion more in medical costs than initially anticipated for 2025, with the Medicare portfolio accounting for $3.6 billion of this shortfall. The commercial business, split evenly between ACA plans and the employer sector, accounts for $2.3 billion. UnitedHealth revised its 2025 adjusted earnings outlook to at least $16 per share and expects full-year revenues to approach $448 billion, reflecting an 11% growth over 2024. The company also anticipates a full-year medical care ratio of 89.25%. The call highlighted a significant increase in medical cost trends, with inpatient utilization and outpatient care contributing 70% of Medicare Advantage's cost pressures. UnitedHealth is implementing benefit cuts, narrowing networks, and leveraging AI to address cost challenges and expects a 7.5% trend in Medicare Advantage medical costs for the year. The company's strategic focus is on margin recovery, with plans to achieve a 2% to 4% operating margin range in Medicare by 2026.

Revenue Growth

UnitedHealth Group reported revenues of nearly $112 billion, a 13% increase over the prior year, reflecting growth across UnitedHealthcare and Optum.

Client Retention at OptumRx

OptumRx maintained high client retention consistent with past years, with revenue growth of $18 billion or 13%, and earnings growth of over $200 million or nearly 4%.

Commitment to Reform and Performance

The company is undergoing a cultural shift, emphasizing reform, transparency, and performance improvement, with extensive management and operational changes initiated.

UnitedHealth (UNH) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

UNH Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 21, 2025	2025 (Q3)	2.94 / -	7.15	―	―	―
Jul 29, 2025	2025 (Q2)	4.45 / 4.08	6.8	-40.00% (-2.72)	―
Apr 17, 2025	2025 (Q1)	7.29 / 7.20	6.91	4.20% (+0.29)	―
Jan 16, 2025	2024 (Q4)	6.74 / 6.81	6.16	10.55% (+0.65)	―
Oct 15, 2024	2024 (Q3)	7.00 / 7.15	6.56	8.99% (+0.59)	―
Jul 16, 2024	2024 (Q2)	6.65 / 6.80	6.14	10.75% (+0.66)	―
Apr 16, 2024	2024 (Q1)	6.61 / 6.91	6.26	10.38% (+0.65)	―
Jan 12, 2024	2023 (Q4)	5.99 / 6.16	5.34	15.36% (+0.82)	―
Oct 13, 2023	2023 (Q3)	6.33 / 6.56	5.79	13.30% (+0.77)	―
Jul 14, 2023	2023 (Q2)	5.99 / 6.14	5.57	10.23% (+0.57)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

UNH Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 29, 2025	$282.12	$261.07	-7.46%
Apr 17, 2025	$580.92	$450.91	-22.38%
Jan 16, 2025	$537.29	$504.83	-6.04%
Oct 15, 2024	$596.29	$547.92	-8.11%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.