Earnings results often indicate what direction a company will take in the months ahead. With Q3 behind us, let’s have a look at Oscar Health (NYSE: OSCR) and its peers.

Upfront premiums collected by health insurers lead to reliable revenue, but profitability ultimately depends on accurate risk assessments and the ability to control medical costs. Health insurers are also highly sensitive to regulatory changes and economic conditions such as unemployment. Going forward, the industry faces tailwinds from an aging population, increasing demand for personalized healthcare services, and advancements in data analytics to improve cost management. However, continued regulatory scrutiny on pricing practices, the potential for government-led reforms such as expanded public healthcare options, and inflation in medical costs could add volatility to margins. One big debate among investors is the long-term impact of AI and whether it will help underwriting, fraud detection, and claims processing or whether it may wade into ethical grey areas like reinforcing biases and widening disparities in medical care.

The 12 health insurance providers stocks we track reported a strong Q3. As a group, revenues beat analysts’ consensus estimates by 2.3% while next quarter’s revenue guidance was 1.3% below.

In light of this news, share prices of the companies have held steady as they are up 4.8% on average since the latest earnings results.

Oscar Health (NYSE: OSCR)

Founded in 2012 to simplify the notoriously complex American healthcare system, Oscar Health (NYSE: OSCR) is a technology-focused health insurance company that offers individual and small group health plans through its cloud-native platform.

Oscar Health reported revenues of $2.99 billion, up 23.3% year on year. This print fell short of analysts’ expectations by 3.3%. Overall, it was a mixed quarter for the company with full-year operating income guidance exceeding analysts’ expectations but a significant miss of analysts’ revenue estimates.

“The individual market is the only source of affordable health coverage for 22 million people who power our economy,” said Mark Bertolini, CEO of Oscar Health.

Oscar Health pulled off the highest full-year guidance raise but had the weakest performance against analyst estimates of the whole group. Still, the market seems discontent with the results. The stock is down 4.1% since reporting and currently trades at $16.55.

Is now the time to buy Oscar Health? Access our full analysis of the earnings results here, it’s free.

Best Q3: CVS Health (NYSE: CVS)

With over 9,000 retail pharmacy locations serving as neighborhood health destinations across America, CVS Health (NYSE: CVS) operates retail pharmacies, provides pharmacy benefit management services, and offers health insurance through its Aetna subsidiary.

CVS Health reported revenues of $102.9 billion, up 7.8% year on year, outperforming analysts’ expectations by 4.1%. The business had an exceptional quarter with a solid beat of analysts’ same-store sales estimates and an impressive beat of analysts’ revenue estimates.

Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 4.1% since reporting. It currently trades at $78.83.

Is now the time to buy CVS Health? Access our full analysis of the earnings results here, it’s free.

Weakest Q3: Molina Healthcare (NYSE: MOH)

Founded in 1980 as a provider for underserved communities in Southern California, Molina Healthcare (NYSE: MOH) provides managed healthcare services primarily to low-income individuals through Medicaid, Medicare, and Marketplace insurance programs across 21 states.

Molina Healthcare reported revenues of $11.48 billion, up 11% year on year, exceeding analysts’ expectations by 4.6%. Still, it was a slower quarter as it posted a significant miss of analysts’ full-year EPS guidance estimates and a significant miss of analysts’ EPS guidance for next quarter estimates.

Molina Healthcare delivered the weakest full-year guidance update in the group. The company lost 118,000 customers and ended up with a total of 5.63 million. As expected, the stock is down 2.1% since the results and currently trades at $190.50.

Read our full analysis of Molina Healthcare’s results here.

Alignment Healthcare (NASDAQ: ALHC)

Founded in 2013 with a mission to transform healthcare for seniors, Alignment Healthcare (NASDAQ: ALHC) provides Medicare Advantage health plans for seniors with features like concierge services, transportation benefits, and technology-driven care coordination.

Alignment Healthcare reported revenues of $993.7 million, up 43.5% year on year. This print beat analysts’ expectations by 1.2%. It was a strong quarter as it also produced a beat of analysts’ EPS estimates and full-year EBITDA guidance exceeding analysts’ expectations.

The company added 5,900 customers to reach a total of 229,600. The stock is up 31.5% since reporting and currently trades at $22.51.

Read our full, actionable report on Alignment Healthcare here, it’s free.

UnitedHealth (NYSE: UNH)

With over 100 million people served across its various businesses and a workforce of more than 400,000, UnitedHealth Group (NYSE: UNH) operates a health insurance business and Optum, a healthcare services division that provides everything from pharmacy benefits to primary care.

UnitedHealth reported revenues of $113.2 billion, up 12.2% year on year. This number was in line with analysts’ expectations. Zooming out, it was a mixed quarter as it also recorded a narrow beat of analysts’ customer base estimates but revenue in line with analysts’ estimates.

The company kept the number of customers flat at a total of 54.08 million. The stock is down 9.2% since reporting and currently trades at $331.50.

Read our full, actionable report on UnitedHealth here, it’s free.

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