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" ...

Elevance Health, Inc. (ELV) is scheduled to report second-quarter 2024 results on Jul 17, before the opening bell. The Zacks Consensus Estimate for second-quarter earnings per share of $10 indicates a 10.6% increase from the prior-year figure of $9.04. The estimate increased by a penny in the past week. However, the consensus estimate for second-quarter revenues of $43 billion indicates a 0.9% decline from the year-ago reported figure. Elevance Health beat the consensus estimate for earnings in all the prio ...

In its upcoming report, Elevance Health (ELV) is predicted by Wall Street analysts to post quarterly earnings of $10 per share, reflecting an increase of 10.6% compared to the same period last year. Revenues are forecasted to be $42.99 billion, representing a year-over-year decrease of 0.9%. Over the last 30 days, there has been an upward revision of 0.3% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their ini ...

Notably, the Health Care Select Sector SPDR Fund (NYSEARCA:XLV), the largest healthcare exchangetraded fund ("ETF"), has gained 7% year to date ("YTD"). This return demonstrates a clear appetite for exposure to the promising landscape of U.S. healthcare stocks. Meanwhile, within this dynamic sector, certain companies stand out. These "healthy" healthcare stocks exhibit robust fundamentals, innovative approaches, and a clear vision for future success. Therefore, today, we explore three of the healthiest heal ...

Elevance Health, with a market capitalization of $122.6 billion, is one of the largest publicly traded health benefits providers in the United States. The company also boasts a prudent capital deployment history. These factors are collectively contributing to this Zacks Rank #2 (Buy) company's notable price appreciation. Image Source: Zacks Investment Research The consensus mark for full-year 2024 revenues stands at nearly $172.1 billion, suggesting a 1.1% rise from the prior-year reported number. Our estim ...