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What's in the Cards for Oscar Health This Earnings Season?
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Key Takeaways
Oscar Health's Q3 revenues are forecast to jump 58.1% to $4.7 billion, with a loss of 11 cents per share.
Strong ACA enrollment, higher premiums and market share gains are expected to lift OSCR's Q3 revenues.
Without Q2's $164 million reserve benefit, higher outpatient use may weigh on Oscar Health's Q3 profits.
Oscar Health (OSCR - Free Report) is expected to witness an improvement in its top and bottom lines when it reports third-quarter 2026 results on Nov. 5, before market open.
The Zacks Consensus Estimate for OSCR’s third-quarter revenues is pegged at $4.7 billion, indicating a 58.1% increase from the year-ago reported figure.
The consensus estimate for the bottom line is pegged at a loss of 11 cents per share. The Zacks Consensus Estimate for OSCR’s third-quarter earnings did not witness any movement in the last seven days. The estimate suggests a year-over-year decrease of 79.3%.
OSCR’s Decent Earnings Surprise History
OSCR’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, while missing in one; the average surprise being 45.73%.
What the Zacks Model Unveils for Oscar Health
Our proven model does not conclusively predict an earnings beat for OSCR this time around. A stock needs to have the right combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) that increases the chances of an earnings beat. This is not the case here, as you can see below.
You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Earnings ESP: OSCR has an Earnings ESP of 0.00%. This is because both the Most Accurate Estimate and the Zacks Consensus Estimate are pegged at a loss of 11 cents.
Oscar Health's third-quarter revenues are likely to have benefited from strong ACA marketplace enrollment, higher premium rates and market share gains.
Favorable inpatient, professional and pharmacy utilization trends, coupled with disciplined pricing, are expected to have supported underwriting performance. However, elevated outpatient utilization and seasonal increases in medical expenses might have pressured profitability. As members met deductibles and out-of-pocket limits, Oscar's share of medical costs likely increased.
Risk adjustment remained a key determinant, with first-half payables representing approximately 20% of direct premiums. Favorable market morbidity trends might have supported the medical loss ratio, although estimation uncertainties persisted. Additionally, the absence of the second quarter's $164 million favorable prior-period reserve development, including roughly $160 million from the final 2025 CMS risk adjustment reconciliation, might have weighed on sequential earnings.
Meanwhile, investments in AI-driven automation, streamlined claims processing and improved operating leverage are likely to have moderated SG&A expenses despite rising administrative costs. Higher investment income, backed by an expanded investment portfolio, might have further supported quarterly revenues.
Stocks to Consider
Here are three finance stocks you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat.
HCI Group (HCI - Free Report) has an Earnings ESP of +4.10% and a Zacks Rank #2 at present. The Zacks Consensus Estimate for third-quarter 2026 earnings is pegged at $5.01, indicating a year-over-year decrease of 2.24%.
HCI’s earnings beat estimates in each of the last four reported quarters.
Palomar Holdings (PLMR - Free Report) has an Earnings ESP of +0.29% and a Zacks Rank #3 at present. The Zacks Consensus Estimate for third-quarter 2026 earnings is pegged at $2.60, indicating a year-over-year increase of 23.4%.
PLMR’s earnings beat estimates in two of the last four reported quarters, while missing in two.
Primerica (PRI - Free Report) has an Earnings ESP of +0.35% and a Zacks Rank #3 at present. The Zacks Consensus Estimate for third-quarter 2026 earnings is pegged at $6.39, indicating a year-over-year increase of 0.1%.
PRI’s earnings beat estimates in two of the last four reported quarters, while missing estimates in two.
View the Zacks #1 Rank List
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What's in the Cards for Oscar Health This Earnings Season?
Key Takeaways
Oscar Health (OSCR - Free Report) is expected to witness an improvement in its top and bottom lines when it reports third-quarter 2026 results on Nov. 5, before market open.
The Zacks Consensus Estimate for OSCR’s third-quarter revenues is pegged at $4.7 billion, indicating a 58.1% increase from the year-ago reported figure.
The consensus estimate for the bottom line is pegged at a loss of 11 cents per share. The Zacks Consensus Estimate for OSCR’s third-quarter earnings did not witness any movement in the last seven days. The estimate suggests a year-over-year decrease of 79.3%.
OSCR’s Decent Earnings Surprise History
OSCR’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, while missing in one; the average surprise being 45.73%.
What the Zacks Model Unveils for Oscar Health
Our proven model does not conclusively predict an earnings beat for OSCR this time around. A stock needs to have the right combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) that increases the chances of an earnings beat. This is not the case here, as you can see below.
You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Earnings ESP: OSCR has an Earnings ESP of 0.00%. This is because both the Most Accurate Estimate and the Zacks Consensus Estimate are pegged at a loss of 11 cents.
Oscar Health, Inc. Price and EPS Surprise
Oscar Health, Inc. price-eps-surprise | Oscar Health, Inc. Quote
Zacks Rank: OSCR currently has a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Factors Likely to Shape OSCR’s Q3 Results
Oscar Health's third-quarter revenues are likely to have benefited from strong ACA marketplace enrollment, higher premium rates and market share gains.
Favorable inpatient, professional and pharmacy utilization trends, coupled with disciplined pricing, are expected to have supported underwriting performance. However, elevated outpatient utilization and seasonal increases in medical expenses might have pressured profitability. As members met deductibles and out-of-pocket limits, Oscar's share of medical costs likely increased.
Risk adjustment remained a key determinant, with first-half payables representing approximately 20% of direct premiums. Favorable market morbidity trends might have supported the medical loss ratio, although estimation uncertainties persisted. Additionally, the absence of the second quarter's $164 million favorable prior-period reserve development, including roughly $160 million from the final 2025 CMS risk adjustment reconciliation, might have weighed on sequential earnings.
Meanwhile, investments in AI-driven automation, streamlined claims processing and improved operating leverage are likely to have moderated SG&A expenses despite rising administrative costs. Higher investment income, backed by an expanded investment portfolio, might have further supported quarterly revenues.
Stocks to Consider
Here are three finance stocks you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat.
HCI Group (HCI - Free Report) has an Earnings ESP of +4.10% and a Zacks Rank #2 at present. The Zacks Consensus Estimate for third-quarter 2026 earnings is pegged at $5.01, indicating a year-over-year decrease of 2.24%.
HCI’s earnings beat estimates in each of the last four reported quarters.
Palomar Holdings (PLMR - Free Report) has an Earnings ESP of +0.29% and a Zacks Rank #3 at present. The Zacks Consensus Estimate for third-quarter 2026 earnings is pegged at $2.60, indicating a year-over-year increase of 23.4%.
PLMR’s earnings beat estimates in two of the last four reported quarters, while missing in two.
Primerica (PRI - Free Report) has an Earnings ESP of +0.35% and a Zacks Rank #3 at present. The Zacks Consensus Estimate for third-quarter 2026 earnings is pegged at $6.39, indicating a year-over-year increase of 0.1%.
PRI’s earnings beat estimates in two of the last four reported quarters, while missing estimates in two.