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BRIEF-Unitedhealth Group Reports Q1 2020 Adj Net Earnings Were $3.72 Per Share

April 15 (Reuters) - UnitedHealth Group Inc:

* UNITEDHEALTH GROUP PROVIDES EXPANSIVE SUPPORT TO COVID-19 RESPONSE EFFORTS, REPORTS BALANCED FIRST QUARTER PERFORMANCE

* Q1 2020 NET EARNINGS WERE $3.52 PER SHARE AND ADJUSTED NET EARNINGS WERE $3.72 PER SHARE

* UNITEDHEALTH GROUP’S Q1 2020 REVENUES GREW $4.1 BILLION OR 6.8% TO $64.4 BILLION

* QTRLY RESULTS REFLECT MINIMAL IMPACT FROM PROGRESSION OF COVID-19 VIRUS ACROSS U.S.

* MAINTAINED ITS FULL YEAR EARNINGS PER SHARE OUTLOOK FOR 2020

* ANDREW WITTY, PRESIDENT, UNITEDHEALTH GROUP AND CEO OF OPTUM, WILL TAKE A LEAVE OF ABSENCE

* AS YEAR PROGRESSES, COMPANY WILL CONTINUE TO EVALUATE IMPACT OF COVID-19 ACROSS ITS BALANCED AND DIVERSIFIED BUSINESSES

* MEDICAL CARE RATIO OF 81.0% IN Q1 2020 DECREASED FROM 82.0% LAST YEAR IN SAME QUARTER

* EMPLOYING AND PAYING FULL WAGES TO OUR ENTIRE WORKFORCE

* PROVIDED EARLY REFILLS, PROLONGED AUTHORIZATIONS AND INCREASED HOME DELIVERY

* IN THE FIRST QUARTER OF 2020, OPTUM REVENUES GREW BY $6.5 BILLION OR 24.6% YEAR-OVER-YEAR TO $32.8 BILLION

* OPTUM’S FIRST QUARTER 2020 EARNINGS FROM OPERATIONS GREW $230 MILLION OR 12.2% YEAR-OVER-YEAR TO $2.1 BILLION

* UNITEDHEALTH - ANDREW WITTY WILL TAKE A LEAVE OF ABSENCE TO HELP LEAD WORLD HEALTH ORGANIZATION’S NEW INITIATIVE FOR COVID-19 VACCINE DEVELOPMENT

* ACCELERATED NEARLY $2 BILLION OF PAYMENTS TO CARE PROVIDERS TO PROVIDE NEEDED LIQUIDITY FOR THE HEALTH SYSTEM.

* WAIVED ALL COST SHARING FOR COVID-19 DIAGNOSIS AND TREATMENT

* REMOVED ALL COVID-19 PRIOR AUTHORIZATIONS

* WILL NOT REQUEST, NOR DO WE INTEND TO RETAIN, ANY GOVERNMENT ASSISTANCE

* Q1 EARNINGS PER SHARE VIEW $3.63, REVENUE VIEW $64.32 BILLION -- REFINITIV IBES DATA

* UNITEDHEALTH - MAINTAINED FY EPS OUTLOOK FOR 2020, INCLUDING NET EARNINGS OF $15.45 TO $15.75 PER SHARE & ADJUSTED NET EARNINGS OF $16.25 TO $16.55 PER SHARE

* FY2020 EARNINGS PER SHARE VIEW $16.22 -- REFINITIV IBES DATA Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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