UnitedHealth Group  reported second-quarter 2022 performance led by broad-based growth at Optum and UnitedHealthcare. The company's second quarter 2022 revenues grew $9 billion or 13 per cent to $80.3 billion year-over-year, reflecting double-digit growth at both Optum and UnitedHealthcare.

Second quarter 2022 earnings from operations were $7.1 billion with well-diversified contributions from across the enterprise. Adjusted net earnings of $5.57 per share increased 19 per cent year-over-year.

The second quarter 2022 medical care ratio was 81.5 per cent compared to 82.8 per cent last year, due to COVID effects and business mix. Favourable medical reserve development of $890 million compared to $500 million in the year ago second quarter. Days claims payable were 50.6, compared to 49.1 in the first quarter of 2022 and the second quarter of 2021.

“Customers are responding as we build on our five growth pillars, enabling us to move into the second half of 2022 with strong momentum serving ever more people more deeply,” said Andrew Witty, chief executive officer of UnitedHealth Group.

Based on the first half performance and growth expectations, the company increased its full-year net earnings outlook to $20.45 to $20.95 per share and adjusted net earnings to $21.40 to $21.90 per share. Growth in the second quarter was balanced across the company’s businesses, driven especially by continued strong expansion in people served at UnitedHealthcare and in value-based arrangements at Optum Health.

The second quarter 2022 medical care ratio was 81.5 per cent compared to 82.8 per cent last year, due to COVID effects and business mix. Favorable medical reserve development of $890 million compared to $500 million in the year ago second quarter. Days claims payable were 50.6, compared to 49.1 in the first quarter of 2022 and the second quarter of 2021.