UnitedHealth Profit Rises Despite ACA-Related Costs
October 17 2017 - 7:40AM
Dow Jones News
By Allison Prang
UnitedHealth Group reported an increase in profit and increased
its guidance for the year while it still felt the impacts from
pulling out of Affordable Care Act markets.
The company reported adjusted net earnings of $2.6 billion, or
$2.66 a share, compared with $2.1 billion this time last year.
Revenue rose 8.7% to $50.3 billion, but consolidated revenue took a
$1.6 billion-dollar hit because of the ACA tax deferral and as a
result of the company pulling out of ACA markets.
The net margin expanded 6 basis points to 4.9%.
UnitedHealth said for the year it is predicting adjusted net
earnings will "approach" $10 a share. Last quarter, it was
predicting between $9.75 and $9.90 for the year.
Shares were flat in premarket trading. They are up 20.72% year
to date.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
October 17, 2017 07:25 ET (11:25 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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