UnitedHealth Raises 2026 Profit Outlook After Strong Q2 Results

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

UnitedHealth posted adjusted earnings per share of $6.38, compared with the $4.90 expected by analysts. Revenue reached $112.03 billion versus the $110.85 billion forecast. Net income for the quarter totaled $5.48 billion, or $6.04 per share, up from $3.41 billion, or $3.74 per share, in the same period a year earlier.

The company's stock rose more than 7 percent in morning trading following the results.

Medical costs remained elevated over historical levels, according to company statements. Officials attributed the pressure to post-pandemic care demand and high-cost specialty drugs. UnitedHealthcare served 48.5 million people in the quarter, a decline of 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 2026. Higher premiums and adjusted benefits are offsetting enrollment declines, keeping revenue stable, the company said.

The company is investing $1.5 billion in artificial intelligence to improve efficiency and payment accuracy. Officials said the tools assist with prior authorizations and fraud detection but do not decide care approvals. A turnaround plan involving membership reductions and contract exits is described as a multiyear effort.

“These results are not a reflection of trend bending or coming under control, but rather our efforts to start pushing down what is already an elevated number.”