联合健康集团UnitedHealth Group Inc.（UNH）2025年第三季度业绩报告「NYSE」（英文版）（13页）.pdf

1、Page 1 of 13 UnitedHealth Group Reports Third Quarter 2025 Results and Raises Full Year 2025 Earnings Outlook Third Quarter 2025 Revenues of$113.2 Billion Grew 12%Year-Over-Year Third Quarter Earnings of$2.59 Per Share,Adjusted Earnings$2.92 Per Share Cash Flows from Operations were$5.9 Billion,or 2

2、.3x Net Income Raises Full Year 2025 Earnings Outlook to at least$14.90 Per Share;Adjusted Earnings of at least$16.25 Per Share(October 28,2025)UnitedHealth Group(NYSE:UNH)reported third quarter 2025 results,reflecting the continued execution on its performance agenda,refocus on its mission and cult

3、ure,and return to sustained growth.“We remain focused on strengthening performance and positioning for durable and accelerating growth in 2026 and beyond,and our results this quarter reflect solid execution toward that goal,”said Stephen Hemsley,chief executive officer of UnitedHealth Group.UnitedHe

4、alth Group raised its 2025 earnings outlook to reflect net earnings of at least$14.90 per share and adjusted net earnings of at least$16.25 per share.Third Quarter 2025 Key Performance Metrics Consolidated revenues of$113.2 billion,up 12%year-over-year.Earnings from operations were$4.3 billion;net m

5、argin of 2.1%.Adjusted EPS of$2.92;GAAP EPS of$2.59.Medical care ratio(MCR)of 89.9%was in line with expectations outlined in the second quarter 2025.Operating cost ratio of 13.5%reflecting investments to support future growth.UnitedHealthcare revenues grew 16%year-over-year to$87.1 billion,driven by

6、 growth in Medicare&Retirement and Community&State;UnitedHealthcare served 50.1 million consumers domestically,up 795,000 year-over-year.Optum revenues grew 8%year-over-year to$69.2 billion,driven by growth in Optum Rx.September 30,2025,debt-to-capital ratio of 44.1%unchanged from the second