The following is a summary of the UnitedHealth Group Incorporated (UNH) Q1 2024 Earnings Call Transcript:

Financial Performance:

• United Health Group reported Q1 2024 revenues of $75.4 billion, indicating an increase of nearly $5 billion.
• Medical care ratio for the first quarter was 84.3%.
• Despite the business disruption impacts related to Change Healthcare’s cyber attack which led to an estimated financial hit of $1.15 to $1.35 per share, full-year adjusted earnings per share are expected to be in the range of $27.50 to $28.00.

Business Progress:

• UnitedHealthcare added 2.1 million new consumers in Q1, sustaining robust growth.
• Revenues for Optum Health and Optum Rx increased by 16% and 12% to $26.7 billion and $30.8 billion respectively, expanding services further and strengthening existing partnerships.
• UnitedHealth Group is taking measures to recover and mitigate the impacts of the cyber attack, including restoring system functionality and providing financial support to impacted clients. The company also reports progress in securing commercial risk and ASO membership.
• The company continues to explore M&A opportunities, and balances capital deployment with share purchases and dividends.
• The company noticed important growth trends such as an increase in outpatient care for seniors, continued focus on Specialty Rx, and a 75% engagement rate with complex members in Optum Health.