UNH · 10-Q · 2026Q3 · Full report

Optum Segment Operating Results

UNITEDHEALTH GROUP INC · 2026-11-03 · Importance 46 · Surprise 56

Third-quarter Optum revenue fell $2.294 billion, or 3%, to $66.883 billion, while Optum earnings from operations increased to $3.732 billion from $2.510 billion. Optum Health revenue declined primarily because fewer patients were served under value-based arrangements and businesses were disposed of; earnings improved through cost management, pricing, favorable reserve development, and lower loss-contract reserves, partly offset by elevated medical trends. Optum Insight revenue and earnings increased with investment and other income and growth in business and technology services; nine-month earnings also benefited from portfolio divestitures. Optum Rx revenue and earnings grew with specialty pharmacy, partly offset by reduced scripts; adjusted scripts declined to 393 million from 414 million in the third quarter.

Key facts

• UnitedHealth Group realigned certain businesses on January 1, 2026; Optum Financial, including Optum Bank, moved from Optum Health to Optum Insight, while reportable segments remained unchanged and prior-period segment information was recast. source
• Optum Health served approximately 92 million people as of September 30, 2026, compared with 93 million as of September 30, 2025. source
• Optum Rx fulfilled 393 million adjusted scripts in third-quarter 2026, compared with 414 million in third-quarter 2025. source
• The number of people served under Optum Health value-based care arrangements contracted following 2026 pricing increases, exits from certain markets and decreased people served through UnitedHealthcare Medicare Advantage offerings. source
• Optum Health revenue decreased primarily because fewer patients were served under value-based arrangements and due to dispositions, partly offset by business combinations. source
• Optum Health operating earnings increased due to cost management, pricing trends, increased favorable reserve development and a net decrease in loss contract reserves, partly offset by continued elevated medical cost trends. source
• Optum Insight revenue and operating earnings increased due to elevated investment and other income and growth in business and technology services. source
• Optum Rx revenue increased due to retail and specialty pharmacy growth, partly offset by reduced script volume resulting from UnitedHealthcare’s contraction in people served. source