7月29日，联合健康2025年二季度累计回购金额55.45亿美元。 7月29日，联合健康(UNH)开盘下跌5.85%，截至21:30，报265.62美元/股，成交15.49亿美元，总市值 2409.55亿美元。 财务数据显示，截至2025年06月30日，联合健康收入总额2211.91亿美元，同比增长11.35%；归母净利 润96.98亿美元，同比增长245.49%。 大事提醒： 作者：行情君 资料显示，联合健康集团公司("联合健康")是一家多元化的健康和福利公司,致力于帮助人们改善健康系 统,过上更健康的生活。联合健康通过两个不同的平台提供广泛的产品和服务:UnitedHealthcare,提供医疗 保险和福利服务;和Optum,提供信息和技术支持的健康服务。 本文源自：金融界 ...

这家素以业绩稳健增长著称的医疗巨头，今年初曾因医疗成本激增意外撤销业绩指引令华尔街震惊。而 低于预期的业绩指引折射出联合健康当前面临的困境：上半年未能准确预测成本上涨趋势，这可能导致 其调整后每股收益出现2008年以来首次年度下滑。 智通财经APP获悉，周二，联合健康(UNH.US)开盘跌近6%，至5月份以来的最低水平，报267.86美元。 消息面上，该公司在第二季度财报中公布了不及预期的年度利润指引，这让这家医疗保健巨头在努力重 拾投资者信心的道路上再次遭遇挫折。该公司目前预计，2025年调整后每股收益将不低于16美元，远低 于分析师平均预期的20.40美元;营收将在4455亿至4480亿美元之间，分析师预期为4491.6亿美元。 ...

UnitedHealth Group second quarter profits fell to $3.4 billion amid rising costs and the health insurance giant said it would return to earnings growth in 2026. https://t.co/wXsasCR8D0 https://t.co/wXsasCR8D0 ...

Core Insights - UnitedHealth Group reported second-quarter 2025 earnings, with adjusted earnings of $4.08, down from $6.80 a year ago, missing the consensus of $4.95 [1] - Revenues increased 13% year over year to $111.62 billion, slightly missing the consensus of $111.69 billion [1] Financial Guidance - The company reestablished its fiscal year 2025 guidance, projecting adjusted earnings of at least $16 per share versus a consensus of $22.33, and sales guidance of $445.5 billion to $448 billion compared to the analyst estimate of $449.5 billion [3] - Adjusted earnings are now expected to be in the range of $26.00 to $26.50 per share, down from prior guidance of $29.50 to $30.00 per share, with a consensus of $29.73 [4] Medical Cost and Operating Ratios - The full-year 2025 medical cost ratio is expected to be 89.25% +/- 25 basis points, with an operating cost ratio of 12.75% +/- 25 basis points [4] - The Q2 medical care ratio was 89.4%, an increase of 430 basis points year-over-year, while the operating cost ratio was 12.3% compared to 13.3% in the previous year [5] Segment Performance - Optum Health's 2025 revenues are expected to be between $101.1 billion and $101.6 billion, a 4% decline from 2024, with earnings from operations projected at $3 billion to $3.1 billion, below expectations of around $6.6 billion [4] - UnitedHealthcare's full-year 2025 revenues are expected to range from $344 billion to $345.5 billion, growing more than 15% over 2024, with earnings from operations expected to be between $9.0 billion and $9.3 billion [4] Patient Metrics - The number of patients served under fully accountable value-based care models is expected to increase by around 300,000 to 5 million [4] - The segment served 50 million people in Q2, an increase of 770,000 year-to-date, with the employer and individual segment seeing an increase of 400,000 year-over-year [5] Market Strategy - The company plans to be more conservative with its market footprint and may exit certain markets to manage its membership profile [6]

联合健康股价跌超7%，至5月份以来的最低水平。 ...

联合健康(UNH.N)跌超5%，公司2025财年业绩指引低于市场预期。 ...

About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government ...

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Market Overview - US stock index futures are all up, with Dow futures rising by 0.13%, S&P 500 futures by 0.30%, and Nasdaq futures by 0.47% [1] - European indices also show positive movement, with Germany's DAX up 1.17%, UK's FTSE 100 up 0.55%, France's CAC40 up 1.10%, and the Euro Stoxx 50 up 1.02% [2][3] - WTI crude oil increased by 0.07% to $66.76 per barrel, while Brent crude oil rose by 0.13% to $69.41 per barrel [3][4] Federal Reserve Insights - The Federal Reserve is not yet prepared to lower interest rates, with officials divided on the timing and evidence needed for such a decision [5] - The upcoming cryptocurrency policy report from the White House is anticipated to be a catalyst for the crypto market, alongside the Fed's interest rate decision [5] Company News - Oppenheimer raised its year-end target for the S&P 500 to 7100 points, citing easing trade tensions and strong corporate earnings, indicating an 11% upside from the latest closing price [6] - Novo Nordisk lowered its 2025 sales growth and profit expectations, projecting sales growth of 8%-14% compared to a previous forecast of 13%-21% [7] - UnitedHealth's second-quarter earnings guidance fell short of expectations, forecasting adjusted EPS of at least $16, significantly below the analyst consensus of $20.40 [8] - UPS refrained from providing earnings guidance due to market volatility, reporting Q2 revenue of $21.2 billion, a 2.8% year-over-year decline [8][9] - Stellantis restored its earnings guidance but warned of a €1.2 billion (approximately $1.4 billion) tariff impact in the second half of the year [9] - Nomura Holdings reported a 52% year-over-year increase in Q1 net profit, driven by strong trading and investment banking performance [10] - Barclays announced a 23% increase in first-half profits and a $1.3 billion stock buyback plan, benefiting from market trading activity [11] - Whirlpool's Q2 sales fell 5.4% to $3.77 billion, below market expectations, and it lowered its full-year EPS guidance [12] - Philips slightly raised its adjusted operating margin forecast for the year, indicating that the impact of trade tensions was less severe than previously feared [13] Economic Data and Events - Upcoming economic data includes the US wholesale inventory month-on-month change and the Conference Board Consumer Confidence Index [14][15] - Earnings reports are expected from Visa, Booking, Starbucks, UBS, Rio Tinto, UMC, New Oriental, and HSBC [17]

Financial Data and Key Metrics Changes - UnitedHealth Group reported revenues of nearly $112 billion for the second quarter, a 13% increase year-over-year, but adjusted earnings per share of $4.08 fell below the previous year due to pricing and medical cost trends [50][52] - The full year 2025 outlook anticipates revenues approaching $448 billion, reflecting an 11% growth over 2024, with a medical care ratio of 89.25% plus or minus 25 basis points, up from an initial 86.5% midpoint [57][58] Business Line Data and Key Metrics Changes - UnitedHealthcare's second quarter revenues grew by over $12 billion to $86.1 billion, while operating earnings declined by $1.9 billion to $2.1 billion due to medical trend factors [52] - OptumHealth revenues were $25.2 billion in the second quarter, a decline of $1.8 billion from last year, driven by contract adjustments and Medicare funding reductions [54] - OptumRx experienced a revenue growth of $6 billion or 19% year-over-year, driven by new customer additions and specialty products [56] Market Data and Key Metrics Changes - The Medicare Advantage growth year-to-date is 650,000 people, including those eligible for both Medicaid and Medicare [52] - The commercial offerings are experiencing less member growth than initially anticipated, with ACA exchange driving about one-third of the reduced commercial risk member growth outlook for 2025 [53] Company Strategy and Development Direction - The company is undergoing a cultural shift to enhance engagement with regulators and stakeholders, aiming to modernize its operations and improve consumer experiences through technology [8][9] - A focus on margin recovery and operational discipline is emphasized, with significant adjustments to benefits and pricing strategies planned for 2026 [21][22] Management's Comments on Operating Environment and Future Outlook - Management acknowledged unprecedented medical cost trends and the need for a fundamental reorientation of certain business lines to address these challenges [9][10] - The outlook for 2026 anticipates solid but moderate earnings growth, with expectations for stronger growth in 2027 and beyond [62] Other Important Information - The company has recognized approximately $6.5 billion more in medical costs than initially anticipated for 2025, with significant impacts across Medicare, commercial, and Medicaid segments [13][14] - The operational and pricing strategies reflect an understanding of the challenges faced, with a commitment to navigate financial pressures responsibly [26][27] Q&A Session Summary Question: Insights on OptumHealth's pricing and margin expectations - Management confirmed that pricing adjustments from payers will positively impact capitation rates for OptumHealth, which is expected to mitigate 50% of the V28 headwind [66] Question: Run rate earnings expectations for 2026 - The assessment indicated a reasonable expectation of around $13 of run rate earnings, with significant impacts from premium revenue repricing on January 1 [71][76] Question: Long-term EPS growth outlook - The long-term EPS growth rate is expected to return to low double-digit ranges, with a framework for growth remaining intact despite current challenges [80][81]