UnitedHealth Misses Q2 Mark But Vows A Healthier 2026

UnitedHealth Group (NYSE:UNH) reported second-quarter 2025 earnings on Tuesday and reestablished its 2025 guidance.

The insurance giant reported adjusted earnings of $4.08, down from $6.80 a year ago, missing the consensus of $4.95.

Revenues increased 13% year over year to $111.62 billion, missing the consensus of $111.69 billion.

"UnitedHealth Group has embarked on a rigorous path back to being a high-performing company…," said UnitedHealth CEO Stephen Hemsley. The company is strengthening operating disciplines, positioning itself for growth in 2026 and beyond, he added.

Also Read: UnitedHealth Under Federal Scrutiny—Reaffirms Integrity Of Its Medicare Operations

In addition:

Q2 medical care ratio of 89.4% increased 430 basis points year-over-year.

Operating cost ratio was 12.3% compared to 13.3% in the year-ago quarter reflecting business mix, inclusive of the Part D program changes, reduced impacts from last year's Change Healthcare cyberattack and cost management activities.

Q2 revenue was $86.1 billion, a 17% year-over-year boost.

The segment served 50 million people, an increase of 770,000 year-to-date.

Earnings from operations were $2.1 billion compared to $4.0 billion in the second quarter of 2024, and the margin fell from 5.4% to 2.4% primarily due to ...