Health insurance company Oscar Health (NYSE: OSCR) will be reporting earnings this Thursday before market hours. Here’s what investors should know.
Oscar Health beat analysts’ revenue expectations last quarter, reporting revenues of $4.88 billion, up 70.4% year on year. It was an exceptional quarter for the company, with a beat of analysts’ EPS estimates.
Is Oscar Health a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Oscar Health’s revenue to grow 58.8% year on year, improving from the 23.3% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Oscar Health has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Oscar Health’s peers in the health insurance providers segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Elevance Health posted flat year-on-year revenue, beating analysts’ expectations by 3.1%, and UnitedHealth reported flat revenue, topping estimates by 1.2%. Elevance Health traded up 1.2% following the results while UnitedHealth was also up 4.5%.
Read our full analysis of Elevance Health’s results here and UnitedHealth’s results here.
There has been positive sentiment among investors in the health insurance providers segment, with share prices up 2.8% on average over the last month. Oscar Health’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $36.40 (compared to the current share price of $32.35).
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