UnitedHealth Group Updates Business Outlook Ahead of Investor Conference

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UnitedHealth Group (NYSE: UNH ) has released financial guidance ahead of its annual investor conference on November 29 at 8:00 a.m. ET.

UnitedHealth Group announces its 2024 outlook, which includes revenue of $400 billion to $403 billion, net income of $26.20 to $26.70 per share and adjusted net income of $27.50 to $28.00 per share. Adjusted net income excludes only the after-tax non-cash amortization costs of acquisition-related intangible assets. A cash flow of $30 billion to $31 billion is expected. According to its third quarter earnings release, UnitedHealth Group expects 2023 net income of $23.60 to $23.75 per share and net income of $24.85 to $25.00 per share.

The Company will post the Investor Conference Presentation and Management Q&A portion of this meeting on its Investor Relations page www.unitedhealthgroup.com. Meeting materials and a replay of the conference call are available on the Investor Relations page.

About UnitedHealth Group

UnitedHealth Group (NYSE: UNH) is a healthcare and wellness company with a mission to help people live healthier lives and make the health system work better for everyone through two distinct and complementary businesses. Optum delivers technology- and data-driven care, empowering people, partners and providers with the guidance and tools they need to achieve better health. United Healthcare offers a comprehensive range of health benefits, enabling affordable coverage, simplifying the healthcare experience and access to high-quality care. Visit the UnitedHealth Group at www.unitedhealthgroup.com And follow the UnitedHealth team LinkedIn.

Non-GAAP financial information

This news release presents non-GAAP financial information presented as a supplement to the results presented in accordance with generally accepted accounting principles in the United States of America (“GAAP”). Adjusted net earnings are approximately $1.70 and $1.75 per share excluding compensation expense and related tax effects of $0.45 and $0.45 per share for the years ending December 31, 2023 and 2024, respectively, excluding acquisition-related intangible assets.

Forward-looking statements

Any statements, estimates, forecasts, guidance or opinions contained in this document constitute “forward-looking” statements intended to take advantage of the “safe harbor” provisions of the federal securities laws. The words “believe,” “expect,” “expect,” “estimate,” “predict,” “forecast,” “outlook,” “plan,” “project,” “should” and similar expressions identify forward-looking statements. These statements may contain information about financial prospects, economic conditions and trends and involve risks and uncertainties. Actual results may differ materially from management’s expectations, depending on the effect of certain factors including: our ability to effectively estimate, value and manage medical expenses; new or changes to existing health care laws or regulations, or their applicability or enforcement; A reduction in revenue or a delay in cash flow in government programs; changes in Medicare, the CMS star rating program, or risk adjustment data verification audits; DOJ Legal Action Related to Risk Adjustment Submission Issue; our ability to maintain and improve quality results that affect revenue; failure to maintain effective and efficient information systems or if our technology products do not function as intended; cyber-attacks, other privacy/information security risks, or our failure to comply with relevant regulations; risks and uncertainties related to our business providing pharmacy care services; competitive pressures, including our ability to maintain or increase our market share; changes to or challenges to our public sector contract awards; failure to achieve targeted operational cost productivity improvements; failure to develop and maintain satisfactory relationships with health care payers, physicians, hospitals and other service providers; the impact of potential changes in tax laws and regulations; increased costs and other liabilities associated with litigation, government investigations, audits or assessments; failure to complete, manage or integrate strategic transactions; Risks related to public health crises arising from major medical emergencies, epidemics, natural disasters and other severe events; failure to attract, develop, retain and manage key personnel and executives; the performance of our investment portfolio; impairment of our goodwill and intangible assets; failure to protect proprietary rights in our databases, software and related products; a downgrade in our credit rating; and our ability to obtain sufficient cash from our controlled entities or external financing to cover our obligations, maintain our debt to total capital ratio at target levels, maintain our quarterly dividend payment cycle or repurchase our common stock.

This list above is not complete. We discuss these matters, and certain risks that could affect our business, financial condition and results of operations, in our filings with the SEC, including our reports on Forms 10-K, 10-Q and 8-K. By their nature, forward-looking statements are not guarantees of future performance or results and are subject to risks, uncertainties and assumptions that are difficult to estimate or measure. Actual results may differ materially from expectations expressed in this document or from any of our previous communications. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. We do not undertake to revise or revise any forward-looking statements except as required by law.



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