UnitedHealth forecasts 2020 earnings, midpoint below estimates

UnitedHealth forecasts 2020 earnings, midpoint below estimates

FILE PHOTO: A UnitedHealth Group health insurance card is seen in a wallet in this picture illustration October 14, 2019. REUTERS/Lucy Nicholson/Illustration/File Photo

(Reuters) – Health insurer UnitedHealth Group (UNH.N) on Monday issued its adjusted earnings forecast for 2020, the midpoint of which was below analysts’ estimates.

The company said it expects 2020 earnings between $16.25 and $16.55 per share, compared with analysts’ estimates of $16.46 per share, according to Refinitiv data.

UnitedHealth, however, said it expected revenue of $260 billion to $262 billion for 2020, largely above Wall Street expectations of $260.81 billion.

The insurer said in October that it was targeting earnings growth of between 13% and 16% in the long term.

(This story was refiled to correct headline to clarify that midpoint is below estimates)

Reporting by Dania Nadeem in Bengaluru; Editing by Anil D’Silva

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