UnitedHealth Group Reports Strong Q1 2023 Financial Results with Revenue Up 15% to $91.9 Billion and Increased Patient Numbers

UnitedHealth Group, Inc. (NYSE:UNH) has reported strong financial results for the first quarter of 2023, with revenue up 15% to $91.9 billion compared to the same period last year.[0] The company’s UnitedHealthcare insurance plans and Optum medical provider businesses saw increased patient numbers and expanded capabilities to care for them more comprehensively.[1] UnitedHealthcare revenues grew by 17%, reaching $70.1 billion, with the company adding 2 million more members compared to the first quarter of 2022.[2] Optum’s revenues grew by 25% to $54.1 billion, and operating earnings rose to $3.7 billion from $3.2 billion a year earlier.[3] The company revised its projected annual net earnings to be between $23.25 and $23.75 per share, while adjusted net earnings are expected to be between $24.50 and $25.00 per share.[4]

UnitedHealth Group provides health care coverage, software, and data consultancy services across several areas, covering software solutions, data advisory needs, and health care services.[5] The company’s subsidiaries, including OptumHealth, OptumRx, and OptumInsight, offer tailored health care coverage to meet individual patient needs. UnitedHealthcare utilizes Optum’s capabilities to coordinate patient care, improve affordability of medical care, analyze cost trends, and manage pharmacy benefits.

The strong financial performance of UnitedHealth Group and its subsidiaries signals positive prospects for the company and its health plan rivals in 2023.[6] Analysts predict that the company will post an expected post-earnings per share (EPS) forecast of $24.69 for the current year. The company’s financials also allow it to pay out hefty quarterly dividends, the last of which was paid on March 21st with stockholders receiving $1.65 per share.[7]

Hedge funds and other institutional investors have also recently modified their holdings in the company, with TimeScale Financial Inc., Pflug Koory LLC, Belmont Capital LLC, O Dell Group LLC, and Legend Financial Advisors Inc. increasing their holdings in UnitedHealth Group.[5] Hedge funds and other institutional investors now own 86.31% of the company’s stock.[5]

0. “UnitedHealth Group (UNH) Earnings: 1Q23 Key Numbers” AlphaStreet, 14 Apr. 2023, https://news.alphastreet.com/unitedhealth-group-unh-earnings-1q23-key-numbers/

1. “UnitedHealth Group reports revenue of $91.9B as Optum and insurance plans units start 2023 strongly” Proactive Investors USA, 14 Apr. 2023, https://www.proactiveinvestors.com/companies/news/1012175/unitedhealth-group-reports-revenue-of-91-9b-as-optum-and-insurance-plans-units-start-2023-strongly-1012175.html

2. “UnitedHealth Group reports $5.6B in Q1 profit, revenues up 15% year over year” FierceHealthcare, 14 Apr. 2023, https://www.fiercehealthcare.com/payers/unitedhealth-group-reports-56b-q1-profit-revenues-15-year-over-year

3. “UnitedHealth Posts Q1 Profit Of $5.6B On Strong Optum, Health Plans; Lifts Earnings Outlook – UnitedHealth Group …” Benzinga, 14 Apr. 2023, https://www.benzinga.com/news/earnings/23/04/31804845/unitedhealth-posts-q1-profit-of-5-6b-on-strong-optum-health-plans-lifts-earnings-outlook

4. “UnitedHealth Group Reports First Quarter Results” UnitedHealth Group, 14 Apr. 2023, https://www.unitedhealthgroup.com/newsroom/2023/2023-04-14-uhg-reports-first-quarter-results.html

5. “Concord Wealth Partners Reduces Stock Holdings in UnitedHealth Group Incorporated (NYSE:UNH)” MarketBeat, 10 Apr. 2023, https://www.marketbeat.com/instant-alerts/nyse-unh-sec-filing-2023-04-10

6. “UnitedHealth’s (UNH) UnitedHealthcare Unit to Drive Q1 Earnings” Zacks Investment Research, 11 Apr. 2023, https://www.zacks.com/stock/news/2076998/unitedhealths-unh-unitedhealthcare-unit-to-drive-q1-earnings

7. “UnitedHealth Group Still One of the Top Contenders in Healthcare Industry, Despite Minor Adjustments to Portfolio by …” Best Stocks, 10 Apr. 2023, https://beststocks.com/unitedhealth-group-still-one-of-the-top-contenders/