Elevance Health Clocks $2.2B Q1 Net Profit Despite 21% Drop In Medicaid Enrollment, Lifts Annual Guidance [Yahoo! Finance]
Elevance Health, Inc. (ELV)
Company Research
Source: Yahoo! Finance
Higher premium yields drove this increase to reflect medical cost trends and growth in Carelon, including a full quarter of revenue from BioPlus, partially offset by attrition in Medicaid membership “First quarter results reflect disciplined execution of our strategic initiatives during a dynamic time for our industry,” CEO Gail Boudreaux said. “We are making significant progress expanding Carelon's capabilities, scaling our flywheel for enterprise growth, and delivering results for all stakeholders.” Related: Elevance, CVS Health Are First Medicare Insurers To Cover Novo Nordisk's Weight Loss Sensation Wegovy Elevance Health's first-quarter profit grew 12.2% year over year to $2.2 billion. The insurer reported adjusted EPS of $10.64, up 12.5% year over year and beating the consensus of $10.53. The benefit expense ratio was 85.6 percent, an improvement of 20 basis points, driven primarily by premium rate adjustments to cover medical cost trend in Health Benefits business. T
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ELV
News
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ELV
Earnings
- 4/18/24 - Beat
ELV
Sec Filings
- 4/25/24 - Form 4
- 4/23/24 - Form 144
- 4/22/24 - Form DEFA14A
- ELV's page on the SEC website