UnitedHealth beat first-quarter forecasts and hiked its 2023 guidance for the first time, propelled in part by more growth from its Optum care segment.
The health care giant said Friday that it now expects adjusted earnings this year to range between $24.50 and $25 per share. That compares to a forecast of between $24.40 and $24.90 per share that the company first laid out late last year.
FactSet says analyst forecast earnings of $24.93 per share.
In the first quarter, UnitedHealth Group Inc. posted adjusted earnings of $6.26 per share on $91.93 billion in total revenue.
Analysts expected earnings of $6.16 per share on $89.7 billion in revenue, according to FactSet.
Minnetonka, Minnesota-based UnitedHealth runs one of the nation’s largest health insurers. It covers more than 50 million people mostly in the United States.
The company’s Optum segment runs one of the nation’s largest pharmacy benefit managers and a growing number of clinics and urgent care and surgery centers.
