--(BUSINESS WIRE)--UnitedHealth Group (NYSE: UNH) reported full year and fourth quarter 2024 results reflecting diversified growth in serving people more extensively at Optum and UnitedHealthcare.
“The people of UnitedHealth Group remain focused on making high-quality, affordable health care more available to more people while making the health system easier to navigate for patients and providers, positioning us well for growth in 2025,” said Andrew Witty, chief executive officer of UnitedHealth Group.
UnitedHealth Group affirmed the 2025 performance outlook established in December 2024, including revenues of $450 billion to $455 billion, net earnings of $28.15 to $28.65 per share, adjusted net earnings of $29.50 to $30.00 per share and cash flow from operations of $32 billion to $33 billion.
| Quarterly and Annual Financial Performance | ||
|---|---|---|
| (in billions, except percentages) | ||
| Revenues | $100.8 | $400.3 |
| Earnings from Operations | $7.8 | $32.3 |
- UnitedHealth Group’s 2024 revenues grew $28.7 billion or 8% year-over-year to $400.3 billion, driven primarily by serving people more comprehensively across the enterprise. Full year 2024 earnings from operations were $32.3 billion. Adjusted earnings from operations of $34.4 billion exclude the cyberattack direct response costs and South American impacts.
- The full year medical care ratio was 85.5% compared to 83.2% in 2023. The increase was primarily due to previously discussed items, including the revenue effects of CMS’s Medicare funding reductions, member mix and timing of Medicaid redeterminations. Factors cited on the company’s third-quarter earnings call, including increased hospital coding intensity and specialty medication prescribing, continued at similar levels in the fourth quarter and are reflected in the company’s 2025 outlook.
- The full year 2024 operating cost ratio of 13.2% compared to 14.7% in 2023, reflecting gains from business portfolio refinement and strong improvement in operating efficiencies and consumer experiences. The business portfolio refinement, including strategic transactions, will enhance growth opportunities and contributed about 80 basis points, nearly half at Optum Health with the remainder split between UnitedHealthcare and Optum Insight.
- Cash flows from operations for the full year were $24.2 billion, or 1.6 times net income. During 2024, the company returned over $16 billion to shareholders through dividends and share repurchases. Return on equity of 23.7% in the fourth quarter, reflected the company’s consistent, broad-based earnings and efficient capital structure.
UnitedHealthcare provides health care benefits globally, serving individuals and employers, and Medicare and Medicaid beneficiaries. UnitedHealthcare is dedicated to improving the value customers and consumers receive by improving health and wellness, enhancing the quality of care received, simplifying the health care experience and reducing the total cost of care.
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