UnitedHealthcare’s stock price dropped by over 22% on Thursday, its worst single-day performance in more than 25 years, after the company missed Wall Street estimates for its first-quarter earnings. The company also slashed its 2025 earnings forecast.
The decline was attributed to an increase in care for Medicare Advantage patients, which was double expectations. However, officials said this surge did not extend to other coverage areas. Despite the disappointing results, UnitedHealthcare still reported a $6.3 billion profit in the quarterly report.
CEO Andrew Witty described the first-quarter report as “unusual and unacceptable” but assured investors that it was a temporary issue. The company’s headquarters is based in Minnetonka, Minnesota, and it covers over 50 million people as one of the largest health insurers in the nation.
Source: https://www.fox9.com/news/unitedhealthcare-stock-hit-earnings-forecast-cut