UnitedHealth Group's first quarter 2026 results beat estimates, driven by a lower-than-expected medical cost ratio.

UnitedHealth Group reported first quarter 2026 revenues of $111.7 billion, a 2% increase year-over-year, with adjusted EPS of $7.23. The results beat consensus estimates, driven by better-than-anticipated medical cost management. In response to the performance, the company raised its full-year 2026 earnings outlook.

Key Highlights

• The medical care ratio was 83.9%, a 90 basis point improvement from the prior year, signaling effective medical cost management that surpassed analyst expectations.
• Full-year 2026 adjusted EPS guidance was raised to be greater than $18.25 per share.
• The UnitedHealthcare segment operating margin expanded by 40 basis points year-over-year to 6.6%, a result of repricing actions to address elevated cost trends.