MINNETONKA, Minn.: UnitedHealth is reporting a fourth-quarter profit of $2.21 billion, easily beating most expectations despite costs affiliated with the COVID-19 pandemic.
Per-share earnings were $2.30, but if one-time costs and charges are taken into account, earnings from the Minnetonka, Minnesota, company were $2.52 per share.
That’s well above the $2.39 that Wall Street had expected, according to a survey of analysts by Zacks Investment Research.
Revenue at the largest U.S. health insurer reached $65.47 billion, also surpassing forecasts.
UnitedHealth affirmed its full-year earnings expectations of between $17.75 and $18.25 per share. That projection includes a per-share hit of about $1.80 due to rising costs from things like testing and treatment for COVID-19, as well as procedures that are being put off due to the pandemic.
Shares of UnitedHealth Group Inc. are essentially flat before the opening bell.
_____
A portion of this story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on UNH at https://www.zacks.com/ap/UNH
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor
Read all the Latest News, Breaking News and Coronavirus News here
Comments
0 comment