UnitedHealth Q2 2026 adjusted EPS $6.38 vs $4.08; full-year adjusted EPS guidance raised to $19.50-$20.00

UnitedHealth reported second-quarter 2026 revenue of $112.0 billion and adjusted EPS of $6.38, up from $4.08 a year earlier. The medical care ratio fell to 86.7% from 89.4%, including $860 million of favorable reserve development. The company raised its 2026 adjusted EPS outlook to $19.50-$20.00 from $17.75 and lifted its share-buyback plan to at least $5 billion, and shares rallied on the day.

• Revenue $112.0B vs $111.6B; adjusted EPS $6.38 vs $4.08
• Medical care ratio 86.7% vs 89.4%, including $860M favorable reserve development
• FY2026 adjusted EPS guidance $19.50-$20.00, up from $17.75 at the start of the year
• Share repurchases at least $5.0B for 2026, up from about $2.5B; operating cash flow outlook about $24B