UnitedHealth Group Incorporated (UNH) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to the United Health Group fourth quarter and full year 2025 earnings conference call. A question and answer session will follow United Health Group's prepared remarks. As a reminder, this call is being recorded. Here are some important introductory information. This call contains forward-looking statements under U.S. federal securities laws. These statements are subject to risks and uncertainties that could cause actual results to differ materially from historical experience or present expectations. A description of some of the risks and uncertainties can be found in the reports that we file with the Securities and Exchange Commission, including the cautionary statements included in our current and periodic filings. This call will also reference a non-GAAP amount. Reconciliation of the non-GAAP to GAAP amounts is available on the financial and earnings reports section of the company's investor relations page at www.unitedhealthgroup.com. Information presented on this call is contained in the earnings release we issued this morning and in our form 8K, dated January 27, 2026, which may be accessed from the investor relations page of the company's website. I will now turn the conference over to the Chairman and Chief Executive Officer of UnitedHealth Group, Stephen Hemsley. Thank you and good morning. Thank you for joining us today. This morning, I'll provide updates on the progress our organization has made over the last six months and the momentum that is building in 2026. Tim Noll and Patrick Conway will dive more deeply into how UnitedHealthcare and Optum finished 2025 and our conviction for improved performance in 2026. Wayne Devite will walk through the details of our full year 2025 financial performance and 2026 outlook before we turn to...