UnitedHealth Group beats Q3 estimates and raises 2026 profit outlook

UnitedHealth Group reported third-quarter 2026 results that exceeded analyst expectations, leading the company to raise its full-year profit outlook for the second consecutive quarter. The insurer reported adjusted earnings of $4.69 per share, significantly higher than the $4.14 consensus, and total revenue of $112.69 billion.

Key to the performance was an improved medical care ratio (MCR) of 88.4%, down from 89.9% in the previous year. This improvement was attributed to disciplined medical cost management, pricing discipline, and investments in value-based care and artificial intelligence. The company’s turnaround strategy involves exiting unprofitable contracts and stabilizing margins through membership adjustments.

CEO Stephen Hemsley and CFO Wayne DeVeydt noted that while medical costs remain elevated compared to historical averages, the company is seeing momentum from its restructuring efforts. The company has also increased its fiscal 2026 adjusted earnings guidance to at least $20.50 per share, up from a previous range of $19.50 to $20.00.