UNH · 10-Q · 2026Q1 · Full report

Optum earnings from operations decline

UNITEDHEALTH GROUP INC · 2026-05-05 · Importance 62 · Surprise 58

Optum consolidated earnings from operations decreased $597 million (from $3.893 billion to $3.296 billion), a decline of roughly 15% year-over-year, while Optum revenues were essentially flat at $63.7 billion. The earnings decline reflected weaker results across Optum Health, Optum Insight and Optum Rx driven by elevated medical cost trends, investments in people/process/technology, net portfolio divestitures and restructuring and other actions. Within Optum Rx, management saw specialty pharmacy growth but lower overall script volume (383 million adjusted scripts in Q1 2026 vs. 408 million in Q1 2025) that weighed on results. Management points to continued investments to support future growth even as near-term earnings are pressured across the Optum businesses.

Key facts

• Optum earnings from operations decreased to $3,296 million for the three months ended March 31, 2026 from $3,893 million for the three months ended March 31, 2025 (a decrease of $597 million or 15%). source