Optum, UnitedHealth Group’s healthcare services arm that includes ASC chain SCA Health, reported $63.7 billion in total revenue for the first quarter of 2026, roughly flat compared to $63.9 billion during the same period last year, according to the company’s April 21 earnings report.
The results come as UnitedHealth Group continues a broad restructuring effort. According to the report, the company has refreshed nearly half of its top 100 leadership roles and is accelerating investments in artificial intelligence, data interoperability and prior authorization processes. UnitedHealth Group also says it is advancing changes in pharmacy practices and transparency, while refocusing its operations entirely on U.S. healthcare following the sale of its Optum UK business and the pending exit from South American markets.
Here are five key notes from the report:
1. Optum reported $3.3 billion in operating earnings, reflecting a 5.2% operating margin, down from $3.9 billion and a 6.1% margin in the first quarter of 2025. On an adjusted basis, operating earnings were $3.3 billion at a 5.1% margin.
2. Revenue for Optum Health declined 3% year over year to $24.1 billion, and earnings from operations fell to $1.1 billion, representing a 4.7% operating margin. This compares to $1.4 billion in operating earnings and a 5.7% margin in the first quarter of 2025. The company attributed the year-over-year change to continued investments and persistently elevated medical costs, partially offset by operational improvements.
3. Optum Insight posted modest revenue growth to $5.1 billion, up from $5 billion last year. The segment’s operating earnings were $963 million, down from $1.2 billion in the first quarter of 2025. Operating margins slipped to 18.8% from 23.2%, which the company attributed to continued investments in people, technology and new products.
4. Parent company UnitedHealth Group reported $6.3 billion in net earnings attributable to common shareholders for the first quarter of 2026, roughly in line with $6.3 billion in the same quarter last year, despite total revenues growing 2% to $111.7 billion.
5. UnitedHealthcare, the company’s insurance arm, posted $86.3 billion in total revenue for the quarter, a 2% year-over-year increase, with operating earnings rising 9% to $5.7 billion and operating margins expanding to 6.6% from 6.2% in the prior year period.
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