Dear UnitedHealth Stock Fans, Mark Your Calendars for January 27

Core Insights - UnitedHealth Group is a leading U.S. health insurer, serving approximately 150 million people globally through its UnitedHealthcare and Optum divisions [1][2] Financial Performance - For Q3 2025, UnitedHealth reported revenues of $113.2 billion, reflecting a 12% year-over-year increase and slightly exceeding analyst expectations [5] - Adjusted EPS for the quarter was $2.92, surpassing consensus forecasts of $2.75 [5] - The medical care ratio was maintained at 89.9%, with a net margin of 2.1% [6] - Operating cash flow doubled net income to $5.9 billion, while UnitedHealthcare's revenues grew despite reimbursement pressures [6] Membership and Growth - The company experienced domestic membership expansion of over 780,000 lives year-to-date, driven by Optum's growth and Medicare Advantage [5] - Optum Insight's revenue remained flat year-over-year at $4.9 billion, while Optum Health focused on value-based care with 85% high-risk member engagement [6] Stock Performance - UnitedHealth's stock is down 44% from its 52-week high of $606.36 but has increased by 47% from its low of $234.60 [3] - The stock has shown a 3% gain over the past five days and a 5% gain over the past month, but it is down nearly 6% over the past three months [3] - Year-to-date, the stock is up 4.5% but down 35% over the past 52 weeks, underperforming the S&P 500, which is up 13% in the same period [4] Future Outlook - UnitedHealth did not provide specific guidance for Q4 but reaffirmed its full-year 2025 outlook, indicating that Medicare headwinds will be offset by repricing, benefit design, and investments in Optum [7]