UnitedHealth Group releases third quarter results

UnitedHealth Group this week released its third quarter results, reporting that the company has experienced growth at a well-balanced level and steady execution in all areas of its various businesses.

“Our growth indicators are positive as we conclude 2016, and we expect to be well positioned in 2017 to better serve consumers and deliver more value to the health system overall,” said UnitedHealth Group CEO Stephen J. Hemsley.

Due to the success experienced by the company thus far in 2016, it raised its projections for its 2016 GAAP net earnings from the range of $7.25 to $7.40 per share to approximately $7.45 and has increased its adjusted net earnings from the range of $7.80 to 7.95 per share to approximately $8.00.

“UnitedHealth Group businesses achieved broad-based growth in the third quarter of 2016, with consolidated revenues increasing 12 percent or $4.8 billion year-over-year to $46.3 billion," according to the report. "Year-to-date, UnitedHealthcare revenues grew 12 percent year-over-year, with double-digit percentage growth across all domestic businesses on strong, diversified enrollment growth."

The revenues of Optum, the company's health services platform, reportedly grew 34 percent year-to-date, with year-over-year revenue growth by business at Optum ranging from 20 percent to 41 percent.