United Health (NYSE:UNH) earnings for the healthcare company’s second quarter of 2020 have UNH stock down on Wednesday. That’s despite the company reporting earnings of $7.12, which is better than Wall Street’s estimate of $5.18. However, its revenue of $62.14 billion missed analysts’ estimates of $63.43 billion.
Let’s take a deeper dive into the most recent United Health earnings report below.
- Adjusted per-share earnings are up 97.8% compared to $3.60 in the same period of the year prior.
- Revenue for the quarter comes in 2.5% higher than the $60.6 billion reported in the second quarter of 2019.
- Operating income of $9.24 billion is a 94.9% increase year-over-year from $4.74 billion.
- The United Health earnings report also has it bringing in a net income of $6.7 billion.
- That’s a 97.6% jump from the company’s net income of $3.39 billion reported during the same time last year.
David Wichmann, CEO of United Health, said this in the earnings report.
“We moved swiftly to assist the people we serve and their care providers, including the provision of $3.5 billion in proactive voluntary customer assistance and accelerated care provider funding. We remain committed to taking further actions to address any future imbalances as a result of the pandemic.”
United Health is maintaining its outlook for the full year of 2020. This has it expecting adjusted EPS ranging from $16.25 to $16.55. For comparison, Wall Street is estimating adjusted EPS of $16.29 for the year.
UNH stock was down 2.4% as of Wednesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.