UnitedHealth Lifts FY21 Earnings View Above Market As Q2 Adj. EPS Tops Estimate

(RTTNews) - While announcing the second-quarter results, UnitedHealth Group (UNH) increased Thursday its fiscal 2021 net earnings outlook to $17.35 to $17.85 per share and adjusted earnings to $18.30 to $18.80 per share.

In pre-market activity on the NYSE, UnitedHealth shares were gaining 1.3 percent to trade at $419.99.

The diversified health care company previously expected full-year net earnings of $17.15 to $17.65 per share and adjusted earnings of $18.10 to $18.60 per share.

On average, 22 analysts polled by Thomson Reuters expect earnings of $18.57 per share. Analysts' estimates typically exclude special items.

The outlook continues to include approximately $1.80 per share in potential net unfavorable COVID-19 effects.

In the second quarter, Unitedhealth reported attributable net profit of $4.27 billion or $4.46 per share, down from $6.64 billion or $6.91 per share a year ago.

Adjusted earnings per share were $4.50 billion or $4.70 per share, compared to $7.12 a year ago. Analysts had expected the company to earn $4.43 per share.

The company's revenue for the quarter rose 14.8 percent to $71.32 billion from $62.14 billion last year. Analysts expected revenues of $69.45 billion.