UnitedHealth Group Q3 FY2026 Earnings Call
With Tim Noel (CEO of UnitedHealthcare), Steve Hemsley (Chairman and CEO), Bobby Hunter (CEO of Government Programs) and 7 more.
UnitedHealth Group is a health care and well-being company with a mission to help people live healthier lives and help make the health system work better for everyone.
More about UnitedHealth Group
We are 340,000 colleagues in two distinct and complementary businesses working to help build a modern, high-performing health system through improved access, affordability, outcomes and experiences. Optum delivers care aided by technology and data, empowering people, partners and providers with the guidance and tools they need to achieve better health. UnitedHealthcare offers a full range of health benefits, enabling affordable coverage, simplifying the health care experience and delivering access to high-quality care. We work with governments, employers, partners and providers to care for 147 million people and share a vision of a value-based system of care that provides compassionate and equitable care. At UnitedHealth Group, our mission calls us, our values guide us and our diverse culture connects us as we seek to improve care for the consumers we are privileged to serve and their communities. Click below to search careers or join our social communities: • Search & apply for careers at careers.unitedhealthgroup.com/ • Follow us on Twitter at twitter.com/UnitedHealthGrp • Follow and like us on Facebook at facebook.com/unitedhealthgroup • Follow us on Instagram at instagram.com/unitedhealthgroup More about UnitedHealth Group can be found at unitedhealthgroup.com/.
1Prepared remarks4 speakers
Good morning, and thank you for joining us today. Our third quarter performance reflects actions taken throughout 2026, driving meaningful progress and reinforcing our confidence to sustainably grow in 2027 and beyond within our 13%-16% long-term target growth range. Our revised full year 2026 guidance reflects continuing improvements in leadership and execution across Optum and UnitedHealthcare as we better align our businesses to serve the demands of the ever-changing U.S. healthcare environment.
We are…
Thanks, Steve. UnitedHealthcare is seeing positive momentum across our Medicare and Medicaid businesses. While our commercial business continues to adjust to a challenging but steadily stabilizing environment. Costs remain stubbornly high across the entire healthcare landscape, and particularly in areas such as specialty pharmacy and acute healthcare service intensity.
We continue to address the challenge of increasingly expensive care with appropriate medical management, operational discipline, and a commitment to…
Thanks, Tim. Our results from the third quarter underscore the important work underway across all of Optum to lay the groundwork for long-term growth. Starting with Optum Health. Overall, Optum Health continued to deliver strong performance in the third quarter, driven by the continued return to value-based care principles, combined with strong execution across our clinical programs and operational improvements, enabling clinicians to focus more on their patients and improve patient experience.
A few of the…
Thanks, Patrick, and good morning. Third quarter results reflect continued progress across the enterprise and improving execution in our businesses where we have been focused on operating reforms to drive better consumer and clinician experience. For Q3 2026, we reported revenue of $113 billion and adjusted earnings per share of $4.69, up from…