UnitedHealth Group reported third-quarter adjusted earnings of $4.69 per share, above the $4.14 analysts expected, and raised its fiscal 2026 adjusted earnings outlook to at least $20.50 per share from $19.50 to $20. Revenue reached $112.69 billion versus $111.40 billion expected. Its medical cost ratio came in at 88.4% against an expected 89.9%, but CFO Wayne DeVeydt said costs remain elevated versus historical norms, with the No Surprises Act dispute resolution process adding at least 1 percentage point. The company is shrinking membership, exiting unprofitable contracts, and investing in value-based care and AI, with acute hospital admissions down 15% and home health admissions up 10%. Net income was $4.11 billion, or $4.56 per share.
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