UnitedHealth Reports Stronger Second-Quarter Earnings, Raises 2026 Guidance

UnitedHealth Group reported second-quarter adjusted earnings per share of $6.38, above the $4.90 expected by analysts. Revenue reached $112.03 billion, exceeding the $110.85 billion consensus estimate. Net income totaled $5.48 billion, or $6.04 per share, compared with $3.41 billion, or $3.74 per share, a year earlier.

The company raised its full-year 2026 adjusted earnings guidance to a range of $19.50 to $20 per share from a prior range above $18.25 per share. It maintained its full-year revenue forecast above $439 billion. UnitedHealthcare membership stood at 48.5 million at the end of the quarter, down 525,000 from the prior period.

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. Medical costs remained elevated above historical levels due to post-pandemic care demand and high-cost specialty drugs. UnitedHealth Group is investing $1.5 billion in artificial intelligence to improve efficiency and payment accuracy.

The tools are used to speed prior authorizations and detect potential fraud, waste, and abuse, but not to approve or deny care. The company's stock rose more than 7 percent in morning trading after the results.