(RTTNews) – While reporting financial results for the third quarter on Wednesday, diversified health care company UnitedHealth Group, Inc. (UNH) raised its earnings outlook for the full-year 2020 as care patterns disrupted by the pandemic moved closer to normal levels.
For fiscal 2020, the company now projects earnings in a range of $15.65 to $15.90 per share, and adjusted earnings in a range of $16.50 to $16.75 per share.
Previously, the company expected earnings in the range of $15.45 to $15.75 per share, and adjusted earnings in the range of $16.25 to $16.55 per share.
On average, 27 analysts polled by Thomson Reuters expect the company to report earnings of $16.58 per share for the year. Analysts’ estimates typically exclude special items.
For the third quarter, net earnings declined to $3.30 per share from $3.67 per share last year. Adjusted earnings were reported at $3.51 per share. Revenues for the quarter increased 8 percent to $65.1 billion from $60.4 billion a year-ago, driven by 21 percent growth at Optum and in UnitedHealthcare’s public-sector and senior businesses.
Analysts expected earnings of $3.09 per share on revenues of $63.96 billion for the quarter.
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