UnitedHealth Lifts Profit Targets on Stronger Sales

Date : 07/18/2019 @ 2:03PM
Source : Dow Jones News
Stock : UnitedHealth Group Inc (UNH)
Quote : 241.0  -3.71 (-1.52%) @ 8:51PM

UnitedHealth Lifts Profit Targets on Stronger Sales

UnitedHealth (NYSE:UNH)
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2 Months : From Jun 2019 to Aug 2019

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By Kimberly Chin 

UnitedHealth Group Inc. boosted its 2019 earnings targets after reporting a strong first half of the year, driven by broader sales growth in premiums, products and services.

The full-year earnings outlook was bumped up to $13.95 to $14.15 a share, up from its previous forecast of $13.80 to $14.05 a share. Adjusted earnings are expected to come in between $14.70 to $14.90 a share, compared with earlier projections of $14.50 to $14.75 a share.

The parent of the nation's largest health insurer said profit climbed 13% from a year earlier to $3.29 billion, or $3.42 a share. Analysts polled by FactSet expected earnings of $3.28 a share.

UnitedHealth posted an adjusted profit of $3.60 a share, topping analysts' estimates of $3.45 a share.

Overall revenue rose 8% to $60.6 billion from a year ago. Analysts were looking for $60.55 billion. Revenue from the UnitedHealthcare segment rose 6% to $48.59 billion and sales from its Optum segment increased 13% to $28.03 billion.

UnitedHealth's shares jumped 1.7% premarket on low trading volume.


(END) Dow Jones Newswires

July 18, 2019 08:48 ET (12:48 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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