UnitedHealth has a strong second quarter, but cyberattack keeps it cautious

UnitedHealth Group topped second-quarter expectations but stayed cautious on its outlook for the year as it continued to eat costs from a massive cyberattack to its Change Healthcare business.

The health care giant said Tuesday it still expects adjusted earnings to fall between $27.50 and $28 in 2024, an outlook it first predicted last fall.

Analysts expect earnings of $27.70 per share, according to FactSet.

UnitedHealth said that outlook included business disruption costs tied to the February attack, which triggered a disruption of payment and claims processing around the country.

In the second quarter, UnitedHealth reported adjusted earnings of $6.80 per share on $98.85 billion in revenue.

Analysts expected earnings of $6.66 per share on $98.73 billion in revenue.

UnitedHealth provides health insurance for more than 49 million people in the United States. Its Optum segment also provides care, runs one of the nation’s largest pharmacy benefits management businesses and offers technology services.

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