UnitedHealth Group Revenue To Hit $360 Billion Next Year

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UnitedHealth Group revenue will surpass $357 billion next year as the diversified healthcare giant continues to grow its health insurance business along with the provision of medical care.

UnitedHealth, which operates the UnitedHealthcare health insurance business and the Optum medical care services unit, says its 2023 revenues are projected to be “$357 billion to $360 billion” with net earnings of “$23.15 to $23.65 per share, and adjusted net earnings of $24.40 to $24.90 per share.”

The announcement Monday afternoon by the nation’s largest health insurance company regarding next year’s sales and earnings comes ahead of Tuesday’s investor day when the healthcare giant reveals its 2023 business outlook. The disclosure on sales is significant given the company’s standing as the nation’s largest health plan, serving as a barometer for the rest of the health insurance industry.

During the last two years of the Covid-19 pandemic, healthcare companies like UnitedHealth that own health plans have been reporting record revenue and profits in part because Americans have delayed getting healthcare services and some routine care.

In addition, health insurance companies are also seeing an expansion of government-subsidized healthcare via Medicare Advantage, which health insurers including UnitedHealthcare administer for seniors, as well as Medicaid, which insurers administer for state governments. Meanwhile, medical care providers like those Optum owns are seeing more patients with the ability to pay for their treatments thanks to expanded healthcare coverage pushed by the Biden administration and Democrats in Congress.

UnitedHealth Group said revenues for 2022 are expected to be approximately $324 billion.

“Net earnings are expected to be $20.85 to $21.05 per share and adjusted net earnings of $21.85 to $22.05 per share, as announced in the third quarter earnings release,” UnitedHealth said. “Adjusted net earnings only excludes the after-tax non-cash amortization expense pertaining to acquisition-related intangible assets.”

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