UnitedHealth Group Inc (MIL:1UNH)
€ 531.3 0 (0%) Market Cap: 493.49 Bil Enterprise Value: 533.24 Bil PE Ratio: 39.11 PB Ratio: 6.08 GF Score: 74/100
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Q1 2024 UnitedHealth Group Inc Earnings Call Transcript

Apr 16, 2024 / 12:45 PM GMT
Release Date Price: €442.45 (+5.32%)

Key Points

Positve
  • UnitedHealth Group Inc (UNH) reconfirmed its full year adjusted earnings outlook despite absorbing $0.30 to $0.40 per share in business disruption impacts related to Change Healthcare.
  • Overall care patterns are consistent with expectations, and within the outlook shared in November, indicating stability in healthcare service utilization.
  • UnitedHealthcare secured major Medicaid wins in Virginia, Texas, and Michigan, demonstrating the strength and competitiveness of its offerings.
  • UnitedHealthcare's commercial benefits grew to serve 2 million more people in the first quarter, indicating strong momentum and consumer-centric product appeal.
  • OptumRx experienced a record selling season and renewed its contract with the Department of Veteran Affairs, highlighting its continued momentum and service value.
Negative
  • The Change Healthcare cyber attack resulted in significant disruption, with a total impact of about $870 million or $0.74 per share in the quarter.
  • The cyber attack led to the temporary suspension of some care management activities, which had a financial impact and may have affected care provider operations.
  • The full year impact of the cyber attack is estimated to be $1.15 to $1.35 per share, reflecting both direct costs and ongoing business disruption.
  • UnitedHealth Group Inc (UNH) experienced a loss of revenues associated with the affected services of Change Healthcare during the service restoration period.
  • The company had to implement additional claims reserves of $800 million due to potential disruption in claims receipt timing, indicating a cautious approach to financial reporting.


Refinitiv StreetEvents Event Transcript
P R E L I M I N A R Y V E R S I O N

UNH.N - UnitedHealth Group Inc
Q1 2024 UnitedHealth Group Inc Earnings Call
Apr 16, 2024 / 12:45PM GMT

=====================
Conference Call Participants
=====================
* >>Andrew Witty - CEO
* >>John Rex - CFO
* >>Joshua Raskin - Nephron Research LLC
* >>Brian Thompson - Unit CEO
* >>Albert J. Rice - UBS Investment Bank, Research Division
* >>Justin Lake - Wolfe Research, LLC
* >>Stephen Baxter - Wells Fargo Securities, LLC, Research Division
* >>Roger Connor - Senior Key Executive
* >>Kevin Fischbeck - BofA Securities, Research Division
* >>Nathan Rich - Goldman Sachs Group, Inc., Research Division
* >>Daniel Kueter - Unit CEO
* >>Lance Wilkes - Sanford C. Bernstein & Co., LLC., Research Division
* >>Amar Desai - Unit CEO
* >>Sarah James - Cantor Fitzgerald & Co., Research Division
* >>Gary Taylor - TD Cowen, Research Division
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