UnitedHealth Group Inc. signage stands in front of company headquarters in Minnetonka, Minnesota, … [+]
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UnitedHealth Group said its 2020 revenues will surpass $260 billion next year as the company prepares to unveil its business strategy Tuesday.
Already the nation’s largest health insurance company, UnitedHealth is poised to grow its top line by about 9%. UnitedHealth operates commercial, Medicaid and Medicare Advantage plans via its UnitedHealthcare health insurance unit and is also expanding its medical care provider business across the country under its fast-growing Optum unit.
Offering a sneak preview to its investor day Tuesday in New York, UnitedHealth said Monday evening its 2020 outlook will include “revenues of $260 billion to $262 billion, net earnings of $15.45 to $15.75 per share, and adjusted net earnings of $16.25 to $16.55 per share.”
“Cash flows from operations are expected to range from $19.0 billion to $19.5 billion in 2020,” the company said Monday.
The 2020 forecast compares to this year’s revenues that are projected to hit $242 billion, with net earnings “to approach $14.25 per share and adjusted net earnings to approach $15.00 per share” UnitedHealth Group said.
On Tuesday, the company’s array of business unit heads and management team will unveil a much-anticipated outlook given UnitedHealth Group operations are often looked at as an industry bellwether. Like UnitedHealth, rivals have also been expanding further into the provision of healthcare.
A year ago, CVS Health, which operates drugstores, retail health clinics and a larger pharmacy benefit manager, acquired Aetna, the nation’s third-largest health insurer. And the health insurer Cigna a year ago completed its merger with Express Scripts, a larger pharmacy benefit manager. UnitedHealth rivals, including Anthem and Humana, have also been gobbling up doctor practices, clinics and other medical care providers.