UnitedHealth Expects Smaller Hit From COVID-19 in 2022

UnitedHealth Group Inc. said it expected COVID-19 to have a smaller impact on its profit next year as infections decline and more people get vaccinated, sparking a rally in the shares of U.S. health insurers. The company, the largest U.S. health insurer, on Thursday also put to rest concerns of an impact from the Delta variant in 2021 by raising its profit outlook. A surge in infections in July and August caused by the more infectious variant had increased hospital costs, but cases have declined since then. Chief Financial Officer John Rex said current market estimates were “beginning to calibrate” the company’s 2022 outlook. Analysts expect UnitedHealth to post adjusted earnings per share of $21.60, according to Refinitiv data. “Investors were waiting to get that visibility into the company’s framework around 2022 and clearly the company provided a confident initial outlook for next year,” Stephens analyst Scott Fidel said. While …

Related Post

This website uses cookies.