Elevance Health, Inc. (NYSE:ELV) Q1 2023 Earnings Conference Call April 19, 2023 8:30 AM ET Company Participants Steve Tanal - Vice President, Investor Relations Gail Boudreaux - President & Chief Executive Officer John Gallina - Chief Financial Officer Peter Haytaian - President of Carelon Morgan Kendrick - President of Commercial & Specialty Health Benefits Division Felicia Norwood - President of Government Health Benefits Division Conference Call Participants Justin Lake - Wolfe Research A.J. Rice - Cred ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-16751 ELEVANCE HEALTH, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporatio ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-16751 ELEVANCE HEALTH, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or ...

Financial Data and Key Metrics Changes - Elevance Health reported fourth quarter adjusted earnings per share of $5.23, exceeding expectations, leading to a full-year adjusted earnings per share of $29.7, reflecting over 15% year-over-year growth from an adjusted baseline of $25.20 in 2021 [10][23][34] - Total operating revenue for the year reached nearly $156 billion, an increase of approximately 14% over the prior year, driven by solid growth in health benefits businesses and Carelon [12][36] - The SG&A expense ratio improved to 11.5% in the fourth quarter and 11.4% for the full year, reflecting a 20 basis points improvement [1][43] Business Line Data and Key Metrics Changes - Medical membership grew by 248,000 members in the fourth quarter, totaling 47.5 million members by year-end, with organic growth comprising over 85% of the increase [11][35] - Carelon's revenue grew by 12% and Carelon services by 27% over 2021, contributing to the overall revenue growth [13][36] - The company added 1.1 million net new commercial members and 1.1 million net new government members for the full year [12][35] Market Data and Key Metrics Changes - The company anticipates growth in medical membership despite commercial repricing and Medicaid redeterminations, with commercial risk-based membership expected to increase by over 200,000 in 2023 [31][32] - Medicaid membership is projected to end the year in the range of 10.8 million to 11.3 million, reflecting anticipated attrition due to eligibility redeterminations [33][42] Company Strategy and Development Direction - Elevance Health is transforming into a lifetime trusted health partner, focusing on optimizing health benefits businesses and expanding Carelon's service capabilities [22][50] - The company plans to disclose Carelon as a separate business division starting in Q1 2023, reflecting its commitment to expanding the scale and scope of services [15][37] - The strategic acquisition of Blue Cross and Blue Shield of Louisiana is expected to enhance community impact and align with Elevance's mission [70][72] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in margin recovery for commercial and Medicare businesses, which is expected to offset member attrition in the Medicaid business [8][30] - The outlook for 2023 includes anticipated growth in adjusted earnings per share of greater than $32.60, reflecting over 12% year-over-year growth [38][44] - Management acknowledged ongoing uncertainties related to Medicaid redeterminations and macroeconomic conditions but remains optimistic about the company's resilience [9][33] Other Important Information - The consolidated medical loss ratio is expected to be 87.2% in 2023, an improvement of approximately 20 basis points compared to 2022 [42] - The company plans to repurchase approximately $2 billion in shares and has approved a 16% increase in its quarterly dividend [49][45] Q&A Session Summary Question: Can you talk about the growth in the services business and partnerships? - Management highlighted the strong momentum in Carelon and the focus on whole health and improving patient experience through partnerships [55][60] Question: Can you provide insights on the Blue Cross Blue Shield of Louisiana acquisition? - Management expressed excitement about the strategic acquisition, emphasizing alignment with Elevance's mission and community impact [70][72] Question: What are the expectations for commercial and Medicaid margins? - Management confirmed ongoing margin recovery in commercial and Medicare segments, with Medicaid margins expected to remain within the 2% to 4% range [82][84] Question: What are the trends in value-based care? - Management noted increased interest in sharing both upside and downside risk in value-based care arrangements, with a focus on timely data sharing [131][132]

Elevance Health Inc. (NYSE:ELV) Q3 2022 Earnings Conference Call October 19, 2022 8:30 AM ET Company Participants Steve Tanal – Vice President-Investor Relations Gail Boudreaux – President and Chief Executive Officer John Gallina – Chief Financial Officer Morgan Kendrick – President-Commercial and Specialty Business Division Peter Haytaian – President-Carelon Felicia Norwood – President-Government Business Division Conference Call Participants A.J. Rice – Credit Suisse Lance Wilkes – Bernstein Scott Fidel – ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-16751 ELEVANCE HEALTH, INC. (Exact name of registrant as specified in its charter) Indiana 35-2145715 (State or other juris ...

Elevance Health Inc. (NYSE:ELV) Q2 2022 Earnings Conference Call July 20, 2022 8:30 AM ET Company Participants Steve Tanal - Vice President, Investor Relations Gail Boudreaux - President and Chief Executive Officer John Gallina - Chief Financial Officer Peter Haytaian - President, Carillon Morgan Kendrick - President, Commercial & Specialty Business Division Felicia Norwood - President, Government Business division Conference Call Participants A.J. Rice - Credit Suisse Justin Lake - Wolfe Research Lance Wil ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-16751 ELEVANCE HEALTH, INC. (Exact name of registrant as specified in its charter) Indiana 35-2145715 (State or other jurisdicti ...

Anthem, Inc. (ANTM) Q1 2022 Results Conference Call April 20, 2022 8:30 AM ET Company Participants Steve Tanal - Vice President of Investor Relations Gail Boudreaux - President & Chief Executive Officer John Gallina - Chief Financial Officer Peter Haytaian - President of Diversified Business Group & IngenioRx Morgan Kendrick - President of Commercial business and Specialty Business Division Felicia Norwood - President of Government Business Division Conference Call Participants Scott Fidel - Stephens Justin ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-16751 ANTHEM, INC. (Exact name of registrant as specified in its charter) Indiana 35-2145715 (State or other jurisdiction of in ...