United Health Care Earnings Release July 19th
United Health Care was the first large-cap health insurer to release second-quarter earnings last week. The leading managed-care company boosted its outlook for the year again. UnitedHealth Group Inc.’s second-quarter earnings rose 13% behind stronger revenue, rising membership and continued sluggish trends in patients using health care. The company also raised its 2011 per-share earnings forecast by 20 cents, the second increase this year following a guidance jump in April and improved sales outlook as well as consumers’ light use of health-care services. Compared with the same period a year ago, revenue grew $2 billion in the second quarter.
From the conference call transcript:
Unitedhealth Group (UNH) Q2 2011 Earnings Call July 19, 2011 8:45 AM ET
President and Chief Executive Officer of Unitedhealth Group, Stephen Hemsley.
“In summary, diversified growth performance across our health benefits platform, coupled with effective cost management, helped UnitedHealthcare grow earnings from operations by nearly $200 million year-over-year to $1,760,000,000. This came despite a lower level of reserve development than in 2010 second quarter, and the implementation of medical care ratio regulation this year.”
Just thought some of you may be curious how your money is being put to work. You can go to the website to listen to a recording of the conference call if you would like more details. Perhaps they should be thanking you, the consumer, for your limited use of health care!