This report does not constitute a rating action. New York, NY (S&P Global Ratings) April, 24, 2025—S&P Global Ratings today said that UnitedHealth Group Inc .?s (UNH) (A+/Stable/A-1) announcement last week that it lowered its 2025 earnings guidance by about 12%, on an earnings per share basis, is a manageable headwind for the company, as it will still generate overall revenue and earnings growth in 2025. We think the company?s issues should be largely fixable for 2026, depending on the competitive environment, medical cost trends, and operational execution. The company?s earnings pressure stems from Medicare Advantage (MA)-related issues affecting both UnitedHealthcare (the insurance business) and OptumHealth (health care services). UnitedHealthcare is facing significantly higher-than-expected medical utilization, particularly for ?follow-on? physician
