Elevance (ELV) Q1 Earnings Beat on Rate Hikes, Guidance Raised [Yahoo! Finance]
Elevance Health, Inc. (ELV)
Company Research
Source: Yahoo! Finance
Operating revenues rose 0.9% year over year to almost $42.3 billion in the quarter under review. However, the top line missed the consensus mark by 0.4%. The strong first-quarter earnings benefited on the back of lower-than-expected expenses, premium rate increases and growth in the Carelon brand. However, the upside was partly offset by attrition in Medicaid membership. The company's measures of premium rate hikes to counter medical cost trends have enabled it to boost 2024 guidance upward. This is expected to provide investors some relief, who were worried about growing medical costs and the effects of a cyberattack against a major rival. Elevance Health, Inc. Price, Consensus and EPS Surprise Elevance Health, Inc. price-consensus-eps-surprise-chart | Elevance Health, Inc. Quote Q1 Operational Update As of Mar 31, 2024, Elevance Health's medical membership was around 46.2 million, which declined 4% year over year in the first quarter. The decrease can be attributed to t
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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