Loading... Wednesday, Elevance Health Inc. ELV reported second-quarter revenues of $43.2 billion, down 0.4% yearover-year, marginally above the consensus of $43.05 billion. BofA Securities observes that Elevance Health has traditionally been seen as an investment lacking Medicare Advantage (MA) exposure. However, this perception may change following UnitedHealth's stronger-thanexpected results and a potentially improving regulatory landscape. The analyst writes, "Ultimately, we believe rates will reflect ac ...

RichVintage Elevance Health, Inc. (NYSE:ELV) has been a remarkable dividend grower in the past decade. ELV's balance sheet remains A-rated. ELV could be positioned to generate 30%+ cumulative total returns through 2026. | --- | --- | --- | --- | --- | --- | --- | --- | |----------------------------|-----------------------------------------------------|--------|---------------------------|---------|--------|---------------------|---------| | | Elevance Health Isted Statements (Unaudited) \n2024 | | Three Mon ...

[PART I. FINANCIAL INFORMATION](index=3&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) [ITEM 1. FINANCIAL STATEMENTS](index=3&type=section&id=ITEM%201.%20FINANCIAL%20STATEMENTS) This section presents Elevance Health's unaudited consolidated financial statements, including Balance Sheets, Income, Comprehensive Income, Cash Flows, and Equity Statements [Consolidated Balance Sheets](index=3&type=section&id=Consolidated%20Balance%20Sheets) [Consolidated Statements of Income](index=4&type=section&id=Consolidated%20Statements%20of%20Income) [Consolidated Statements of Comprehensive Income](index=5&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20Income) [Consolidated Statements of Cash Flows](index=6&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) [Consolidated Statements of Changes in Equity](index=7&type=section&id=Consolidated%20Statements%20of%20Changes%20in%20Equity) **Consolidated Financial Highlights (Six Months Ended June 30):** | Metric | 2024 (Millions USD) | 2023 (Millions USD) | | :-------------------------------- | :------------------ | :------------------ | | Total Operating Revenue | 85,496 | 85,275 | | Net Investment Income | 973 | 803 | | Net Income | 4,550 | 3,860 | | Shareholders' Net Income | 4,546 | 3,842 | | Diluted EPS | 19.44 | 16.10 | | Dividends per Share | 3.26 | 2.96 | | Net Cash Provided by Operating Activities | 2,425 | 8,419 | **Consolidated Balance Sheet Highlights (As of June 30, 2024 vs. December 31, 2023):** | Metric | June 30, 2024 (Millions USD) | December 31, 2023 (Millions USD) | | :-------------------------------- | :--------------------------- | :--------------------------- | | Total Assets | 112,988 | 108,928 | | Total Liabilities | 70,691 | 69,523 | | Total Equity | 42,297 | 39,405 | [Notes to Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) This section provides detailed notes to the unaudited consolidated financial statements, covering organization, accounting policies, acquisitions, investments, and segment information [Note 1. Organization](index=9&type=section&id=Note%201.%20Organization) Elevance Health is a major US health insurer, serving nearly 46 million medical members through affiliated health plans and its brand portfolio - Elevance Health is one of the largest health insurers in the US, serving nearly **46 million medical members** as of June 30, 2024[198](index=198&type=chunk) - The company's brand portfolio includes Anthem Blue Cross/Blue Shield, Wellpoint (for non-BCBSA licensed plans), and Carelon (for healthcare-related brands and capabilities like CarelonRx and Carelon Services)[221](index=221&type=chunk) - Elevance Health operates in four reportable segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other, with Carelon Global Solutions reclassified to Carelon Services in Q4 2023 for comparability[221](index=221&type=chunk) [Note 2. Basis of Presentation and Significant Accounting Policies](index=10&type=section&id=Note%202.%20Basis%20of%20Presentation%20and%20Significant%20Accounting%20Policies) This note outlines the basis of presentation for interim financial statements, details significant accounting policies for investments and receivables, and discusses recently adopted and not-yet-adopted accounting guidance - The unaudited consolidated financial statements are prepared in accordance with GAAP for interim financial reporting, omitting certain annual disclosures unless materially changed or required[222](index=222&type=chunk) - Fixed maturity securities are classified as 'available-for-sale' and reported at fair value, with current/long-term classification based on operational support or contractual requirements[223](index=223&type=chunk) **Allowance for Doubtful Accounts (Millions USD):** | Receivable Type | June 30, 2024 | December 31, 2023 | | :-------------------- | :------------ | :---------------- | | Premium Receivables | 177 | 212 | | Self-Funded Receivables | 87 | 87 | | Other Receivables | 1,046 | 941 | - The company adopted ASU 2020-11 on January 1, 2023, changing accounting for long-duration contracts, requiring annual review of cash flow assumptions and quarterly updates to discount rates, with no material overall impact[230](index=230&type=chunk) - New accounting pronouncements not yet adopted, including ASU 2023-07 (segment reporting), ASU 2023-09 (income taxes), and ASU 2023-05 (joint venture formations), are not expected to have a material impact[231](index=231&type=chunk)[232](index=232&type=chunk)[256](index=256&type=chunk)[257](index=257&type=chunk) [Note 3. Business Acquisitions and Divestitures](index=13&type=section&id=Note%203.%20Business%20Acquisitions%20and%20Divestitures) This note details the company's acquisition and divestiture activities, including completed acquisitions, a business sale, and pending strategic partnerships - Completed the acquisition of Paragon Healthcare, Inc. on March 11, 2024, integrating its infusion services and injectable therapies into CarelonRx, with **$411 million allocated to finite-lived intangible assets** and **$753 million to goodwill**[233](index=233&type=chunk) - Completed the acquisition of BioPlus Parent, LLC on February 15, 2023, enhancing CarelonRx's specialty pharmacy services, with **$820 million allocated to finite-lived intangible assets** and **$893 million to goodwill**[260](index=260&type=chunk) - Completed the sale of life and disability businesses to StanCorp Financial Group, Inc. on April 1, 2024, resulting in a **$240 million gain on sale**[261](index=261&type=chunk) - Entered into an agreement on April 12, 2024, to partner with Clayton, Dubilier & Rice (CD&R) to form Augusta Topco Holdings, L.P., combining certain care delivery assets[234](index=234&type=chunk) - Entered into an agreement on December 31, 2023, to acquire Centers Plan for Healthy Living LLC, a managed long-term care plan, expected to close in Q3 2024[262](index=262&type=chunk) - A **$44 million goodwill impairment** was recorded in Q2 2024 related to CMSI Assets classified as held for sale[235](index=235&type=chunk) [Note 4. Business Optimization Initiatives](index=14&type=section&id=Note%204.%20Business%20Optimization%20Initiatives) The company implemented the "2023-2024 Business Efficiency Program" to enhance operating efficiency, refine investment focus, and optimize its physical footprint - The 2023-2024 Business Efficiency Program, initiated in Q3 2023, aims to enhance operating efficiency and optimize physical footprint[236](index=236&type=chunk) - The program includes write-offs of IT assets, contract exit costs, staff reductions, and asset impairments related to data center and office closures[236](index=236&type=chunk) - Employee termination costs under the program were **$125 million** at June 30, 2024, down from **$191 million** at December 31, 2023[265](index=265&type=chunk) [Note 5. Investments](index=14&type=section&id=Note%205.%20Investments) This note details the company's investment portfolio, including fixed maturity securities, equity securities, and other invested assets, with summaries of fair values, unrealized gains/losses, and investment income **Total Fixed Maturity Securities (Millions USD):** | Metric | June 30, 2024 | December 31, 2023 | | :-------------------------------- | :------------ | :---------------- | | Cost or Amortized Cost | 30,701 | 31,336 | | Gross Unrealized Gains | 313 | 496 | | Gross Unrealized Losses | (1,261) | (1,338) | | Allowance For Credit Losses | (4) | (4) | | Estimated Fair Value | 29,749 | 30,490 | **Total Equity Securities (Millions USD):** | Metric | June 30, 2024 | December 31, 2023 | | :-------------------- | :------------ | :---------------- | | Exchange Traded Funds | 481 | 106 | | Common Equity Securities | 35 | 45 | | Private Equity Securities | 78 | 78 | | Total | 594 | 229 | **Net Losses on Investments (Millions USD):** | Period | Three Months Ended June 30, 2024 | Three Months Ended June 30, 2023 | Six Months Ended June 30, 2024 | Six Months Ended June 30, 2023 | | :-------------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Net Losses on Investments | (87) | (128) | (253) | (219) | - Unrealized losses on fixed maturity securities are primarily due to increasing interest rates and market conditions, but are not recognized into income as the company does not intend to sell these investments before recovery or maturity[239](index=239&type=chunk) - Accrued investment income totaled **$316 million** at June 30, 2024, and **

Elevance Health, Inc. (ELV) reported second-quarter 2024 adjusted earnings of $10.12 per share, which outpaced the Zacks Consensus Estimate by 1.3%. The bottom line improved 12% year over year. The quarterly results were driven by improved product revenues in the CarelonRx business and a significant rise in net investment income. However, the upside was partly offset by a decline in Medicaid and Medicare membership and reduced premium revenues, thus impacting overall margins. Medical membership of Elevance ...

Elevance Health, Inc. (NYSE:ELV) Q2 2024 Earnings Call Transcript July 17, 2024 8:30 AM ET Company Participants Steve Tanal - VP of IR Gail Boudreaux - President and CEO Mark Kaye - CFO Felicia Norwood - President, Government Health Benefits Pete Haytaian - President, Carelon Morgan Kendrick - President, Commercial Health Benefits Conference Call Participants A.J. Rice - UBS Nathan Rich - Goldman Sachs Lance Wilkes - Bernstein Kevin Fischbeck - Bank of America Josh Raskin - Nephron Research Lisa Gill - JPMo ...

The Indianapolis company posted adjusted earnings per share (EPS) of $10.12 on operating revenue of $43.2 billion, topping analysts' consensus estimates compiled by Visible Alpha of $10 per share on revenue of $42.9 billion. Key Takeaways Elevance Health posted adjusted earnings per share (EPS) of $10.12 on revenue of $43.2 billion, beating analysts' expectations. Operating revenue fell year-over-year due to "attrition in Medicaid membership." The company reiterated its full-year adjusted EPS guidance of at ...

For the quarter ended June 2024, Elevance Health (ELV) reported revenue of $43.22 billion, down 0.4% over the same period last year. EPS came in at $10.12, compared to $9.04 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $42.99 billion, representing a surprise of +0.54%. The company delivered an EPS surprise of +1.30%, with the consensus EPS estimate being $9.99. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and ...

Loading... The decrease was driven by attrition in Medicaid membership, partially offset by higher premium yields reflecting the medical cost trend and growth in CarelonRx product revenue related to members served. Premiums fell 3.2% to $35.42 billion, and product revenue rose 14% to $5.53 billion. Services fees increased 18% to $2.28 billion. Reuters notes that Unlike rivals UnitedHealth Group Inc UNH and Humana Inc HUM, Elevance is less exposed to government-backed Medicare Advantage plans for people aged ...

Elevance Health (ELV) came out with quarterly earnings of $10.12 per share, beating the Zacks Consensus Estimate of $9.99 per share. This compares to earnings of $9.04 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 1.30%. A quarter ago, it was expected that this health insurer would post earnings of $10.54 per share when it actually produced earnings of $10.64, delivering a surprise of 0.95%. Over the last four quarters, the ...

Key Highlights • 2Q 2024 adjusted diluted EPS of $10.12 grew 12% year-over-year 2024 Outlook 2 • Guidance embeds investment in strategic growth initiatives, notably in CarelonRx, as we integrate recent acquisitions and scale key value drivers Strategic Focus Areas 3 • Building a sustainable Medicare Advantage business for the long-term 2 • Operating revenue was impacted by declines in Medicaid membership, partially offset by premium rate increases to cover medical cost trends 1. See "Basis of Presentation" ...