UnitedHealth Group Raises 2026 Profit Outlook After Q2 Beat

UnitedHealth Group reported second-quarter earnings that exceeded analyst estimates and raised its full-year adjusted earnings guidance. The company now expects 2026 adjusted earnings of $19.50 to $20 per share, up from a prior range above $18.25 per share. It maintained its full-year revenue forecast above $439 billion.

UnitedHealth posted adjusted earnings per share of $6.38 versus the $4.90 expected by analysts. Revenue reached $112.03 billion, above the $110.85 billion consensus. Net income for the quarter totaled $5.48 billion, or $6.04 per share, compared with $3.41 billion, or $3.74 per share, a year earlier. The company's stock rose more than 7 percent in morning trading after the results.

Medical costs remained elevated above historical levels, the company said. Officials attributed the increase to post-pandemic care demand and high-cost specialty drugs. UnitedHealthcare membership fell to 48.5 million people, down 525,000 from the prior quarter.

The company forecast a loss of roughly 500,000 Affordable Care Act exchange members and 1.1 million Medicare Advantage members for the full year. Higher premiums and benefit adjustments are offsetting some revenue pressure from the membership decline, officials said.

The company is investing $1.5 billion in artificial intelligence to improve efficiency and payment accuracy. Officials said the tools help speed prior authorizations and detect potential fraud, waste, and abuse. AI systems are not used to approve or deny care, the company stated. Officials described the turnaround as a multiyear effort that is already producing stronger earnings.