UnitedHealth Group Incorporated (UNH) Earnings Call Transcripts
UnitedHealth Group Incorporated's Latest Earnings Call - Q3 FY2026
In the third quarter of 2026, UnitedHealth Group reported revenue of $113 billion and adjusted earnings per share (EPS) of $4.69, significantly up from $2.92 a year ago. The company reaffirmed its full-year adjusted EPS guidance of at least $20.50, reflecting a positive outlook for 2027 with a long-term growth target of 13% to 16%. Management emphasized ongoing improvements in operational execution across its segments, particularly in Medicare and Medicaid, while addressing rising healthcare costs and regulatory challenges.
Reported metrics
| Metric | Value |
|---|---|
| Revenue | $113 billion (beat) |
| Adjusted EPS | $4.69 (beat) |
| Medical Care Ratio | 88.4% (positive) |
| Medicare Advantage Savings | $4,000 (positive) |
| Debt to Capital Ratio | 41.7% (positive) |
| Stock Repurchase | $5 billion (positive) |
Guidance from management
Management maintained its full-year adjusted EPS guidance of at least $20.50 and expressed confidence in achieving long-term growth targets of 13% to 16% in 2027 and beyond.
What management said
Lance, this is Tim. I'm going to turn it over to Brandon Davis, who is our new CEO of our Commercial business for some insights into the commercial selling season and our pricing posture there.
Maybe just 2 quick other notes on biosimilar because you asked about that, we're seeing robust uptake across our clients, lowest net cost. Our Optum specialty distribution, if we stood up is functioning well. Last thing I'll call out across Christ and John's team. really great collaboration between the Optum Health clinicians and the pharmacies to make sure we're providing that integrated care experience for the pati...
What analysts pressed on
Analysts expressed concerns about the ongoing high costs in specialty pharmacy and the impact of regulatory changes on margins. There were also questions regarding the stability of Medicaid funding and how it might affect future performance.
Main topics on the call
- Revenue Growth and Guidance — UnitedHealth reported Q3 revenue of $113 billion, up from $105 billion in the same quarter last year. Management stated, "We view our 2026 adjusted EPS guidance of at least $20.50 as a solid run rate on which to grow," i...
- Medicare Advantage Performance — The Medicare Advantage segment continues to show strength, with over 94% of Medicare-eligible individuals having access to UnitedHealthcare plans. Management noted that beneficiaries save an average of $4,000 annually co...
- Cost Management Challenges — Management acknowledged ongoing high costs in specialty pharmacy and acute healthcare services, stating, "Costs remain stubbornly high across the entire health care landscape." This indicates continued pressure on margin...
- Optum Health Turnaround — Optum Health is seeing a return to value-based care principles, with a 27% increase in online self-scheduling and a 10% rise in home health visits. Management expressed optimism for 2027, stating, "The actions taken thro...
Read the full UnitedHealth Group Incorporated transcript (Q3 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About UnitedHealth Group Incorporated
UnitedHealth Group Incorporated (UNH) is a publicly listed company in the Health Care Providers and Services industry, within the Health Care sector. It trades on NYSE and is based in US. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 50 calls on record spanning January 15, 2020 to October 13, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 50 UnitedHealth Group Incorporated earnings call transcripts on record, spanning January 15, 2020 to October 13, 2026. Based on this history, UnitedHealth Group Incorporated reports quarterly. The most recent call on file is dated October 13, 2026. The full list is below — each row opens the complete, free-to-read transcript.
- Ticker
- UNH
- Exchange
- NYSE
- Country
- US
- Sector
- Health Care
- Calls on record
- 50
- First call
- January 15, 2020
- Most recent
- October 13, 2026
- Reporting cadence
- quarterly