UnitedHealth (UNH) used to trade like a steady healthcare mega-cap on earnings — but the last two years tell a different story. Below is its earnings behaviour based on the last ~40 reports (roughly the past 10 years), as of July 2026.
UNH earnings at a glance
UNH’s decade average earnings move is about ±5.7%, but the last two years have run dramatically hotter at ±11.2% — nearly double the long-run pace. Recent prints include April 2025 (≈ −23.6% peak vs ~±4.1% implied) and January 2026 (≈ −20.3% vs ~±6.1% implied). The 95th-percentile tail is about ±10.6%.
Does UNH beat its implied move?
The implied move is what options price in before the report. Among recent reports with tracked implied moves, UNH’s actual peak move has topped the implied in about 88% of cases (14 of 16) — unusually high, driven by several quarters where the stock moved far more than options priced in.
regimes
How UNH’s moves are distributed
The distribution has fattened dramatically in the recent regime: the decade median is only ±4.5%, but the two-year average (±11.2%) and recent outliers dwarf that. Sizing for the old ±5.7% average alone would understate the risk in the current environment.
Recent UNH earnings
To make it concrete: January 2026’s peak move reached about ±20.3% against an implied move near ±6.1% — more than triple what options priced in. April 2026 rebounded with a ±10.6% peak against ~±6.0% implied. UNH is no longer a sleepy healthcare earnings print.
IV rush and IV crush on UNH
Implied volatility builds into the report (the IV rush) and collapses after (the IV crush). With a high beat rate and a heating regime, UNH’s post-report premium drop has historically been less predictable than on steady mega-caps.
What UNH’s earnings data means for options
These figures are a reference point, not a signal. UNH has cleared its implied move in roughly seven of every eight tracked reports (~88%), the two-year average (±11.2%) matters far more than the decade mark (±5.7%) right now, and the ±10.6% 95th-percentile figure marks realistic tail risk. Compare the live implied move in the EarningsWatcher app.
Frequently asked questions
How much does UNH move on earnings?
Over its last ~40 earnings reports (as of July 2026), UnitedHealth's average earnings-day peak move was about plus or minus 5.7% over ten years, with a median near plus or minus 4.5%. The last two years have averaged about plus or minus 11.2% — a dramatic heating-up regime. The 95th-percentile move is about plus or minus 10.6%.
Does UNH usually beat its implied move?
Among recent reports with tracked implied moves, very often — about 88% of those reports (roughly 14 of 16). Several recent quarters moved far more than options priced in (e.g. January 2026 near minus 20% peak vs ~6% implied).
What is UNH's implied move for earnings?
UnitedHealth reports July 16, 2026 (before the open); as of early July 2026 the live implied move has been pricing near plus or minus 6.5% (below the plus or minus 11.2% two-year average). Check the live figure in the EarningsWatcher app.
When does UnitedHealth (UNH) report earnings in July 2026?
UnitedHealth is scheduled to report Q2 2026 results on July 16, 2026, before the market open (BMO). Confirm the exact time on a live earnings calendar before trading.