UnitedHealth Reports Q2 EPS of $6.38, Beats Estimates and Raises 2026 Earnings Outlook

According to UnitedHealth Group, the largest private insurer in the U.S. reported second-quarter adjusted earnings per share of $6.38, significantly above Wall Street expectations of $4.90. Revenue reached $112.03 billion, exceeding the expected $110.85 billion. The company raised its full-year 2026 adjusted earnings outlook to $19.50-$20 per share, up from the previous guidance of more than $18.25 per share, while maintaining revenue guidance above $439 billion.

The improvement reflects better management of elevated medical costs through AI-driven efficiency measures and operational restructuring. UnitedHealth's medical benefit ratio improved to 86.7% in Q2 versus 89.4% in the year-ago period, beating analyst expectations of 88.5%. CFO Wayne DeVeydt noted the turnaround remains "a multi-year journey," with the company investing $1.5 billion in artificial intelligence to streamline operations and improve patient care.