UnitedHealth Q3 2026 adjusted EPS $4.69 vs $2.92 a year ago; 2026 adjusted EPS floor raised to $20.50

UnitedHealth reported third-quarter 2026 revenue of $112.7 billion, slightly below $113.2 billion a year earlier, and adjusted EPS of $4.69 against $2.92. The medical care ratio improved to 88.4% from 89.9%, helped by $610 million of favorable prior-period reserve development. The company raised its full-year 2026 adjusted EPS outlook to at least $20.50, above the $19.50-$20.00 range it set in July.

• Revenue $112.7B vs $113.2B; earnings from operations $6.6B vs $4.3B
• Adjusted EPS $4.69 (diluted $4.56) vs $2.92 (diluted $2.59)
• Medical care ratio 88.4% vs 89.9%, including $610M favorable reserve development
• UnitedHealthcare earnings from operations $2.8B (3.3% margin); Optum Health revenue down 10% to $22.9B
• FY2026 adjusted EPS at least $20.50; diluted EPS at least $19.50; debt-to-capital 41.7%