UnitedHealth Group Adjusts Financial Results for South American Operations and Cyberattack Costs
UnitedHealth Group has released its financial results for the period ending September 30, 2024, highlighting adjustments made to account for various impacts. These adjustments include the effects of intangible amortization, South American operations, and costs related to a cyberattack.
Key Adjustments and Financial Highlights:
Intangible Amortization: The company reported intangible amortization of $426 million for the three months ended September 30, 2024, with a tax effect of $104 million.
South American Operations: The company completed the sale of its Brazilian operations on February 6, 2024, and classified its remaining South American operations as held for sale. These actions resulted in a significant impact on adjusted net earnings per share, with $8,435 million recorded for the nine months ended September 30, 2024.
Cyberattack Costs: UnitedHealth Group reported direct response costs of $341 million due to a cyberattack, with a tax effect of $80 million. The total impact of the cyberattack, including business disruption, amounted to $2,457 million for the nine months ended September 30, 2024.
Financial Performance:
Adjusted Net Earnings: For the three months ended September 30, 2024, adjusted net earnings attributable to shareholders were $6,651 million, compared to $6,137 million in 2023.
Adjusted Diluted Earnings Per Share: The adjusted diluted earnings per share were $7.15 for the three months ended September 30, 2024, up from $6.56 in the same period in 2023.
Adjusted Net Margin: The adjusted net margin for the three months ended September 30, 2024, was 6.3%, reflecting the adjustments for South American impacts and cyberattack costs.
Overall Impact:
The adjustments made by UnitedHealth Group to exclude the impacts of intangible amortization, South American operations, and cyberattack costs provide a clearer view of the company’s underlying performance. This approach allows stakeholders to evaluate the company’s financial health without the distortion of one-time or non-recurring events.
For more detailed financial information, visit the official UnitedHealth Group website or refer to their financial reports.
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