UnitedHealth (NYSE:UNH) earnings for first quarter of 2020 have UNH stock heading higher on Wednesday. That’s thanks to its adjusted earnings per share (EPS) of $3.72 beating out Wall Street’s estimate of $3.63. The healthcare company’s revenue of $64.42 billion also comes in above analysts’ estimates of $64.32 billion.
Here are some additional highlights from the most recent UnitedHealth earnings report.
- Adjusted per-share earnings are down slightly from the $3.73 reported in the first quarter of 2019.
- Revenue for the quarter comes in 6.82% higher than the $60.31 billion from the same time last year.
- Operating income of $5 billion is a 3.52% increase year-over-year from $4.83 billion.
- The UnitedHealth earnings report also has net income coming in at $3.47 billion.
- That’s a 2.53% drop compared to its net income of $3.56 billion from the same period of the year prior.
David Wichmann, chief executive officer of UnitedHealth, said this about the UNH stock earnings report:
“From the outset of the COVID-19 pandemic, our singular priority has remained clear: the health, safety and support of the people and communities we serve, including our dedicated team of 325,000 people and the heroic members of the health care workforce, and the reliability and sustainability of health care delivery systems.”
The UnitedHealth earnings report notes that it is maintaining its outlook for 2020. That includes its adjusted EPS of $16.25 to $16.55. Wall Street’s estimate is for adjusted EPS of $16.22 during the year.
UNH stock was up 3.39% as of Wednesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.