Compared to Estimates, Evolent Health (EVH) Q3 Earnings: A Look at Key Metrics

Core Insights - Evolent Health reported $621.4 million in revenue for Q3 2024, a year-over-year increase of 21.6%, but fell short of the Zacks Consensus Estimate of $625.58 million by -0.67% [1] - The company’s EPS for the quarter was $0.04, a significant decline from $0.30 a year ago, resulting in an EPS surprise of -86.67% compared to the consensus estimate of $0.30 [1] Revenue and Earnings Performance - Total revenue by product type for the Performance Suite was $435.10 million, compared to an estimate of $441.93 million, reflecting a year-over-year increase of +34.4% [3] - Total revenue for Cases was $41.43 million, below the estimated $43.18 million, with a year-over-year increase of +10.9% [3] - Administrative Services generated $59.40 million, slightly above the estimate of $58.87 million, but showed a year-over-year decline of -13.6% [3] - Specialty Technology and Services Suite revenue was $85.47 million, exceeding the estimate of $81.94 million, with a year-over-year increase of +5.2% [3] Key Metrics Analysis - Average PMPM Fees for the Performance Suite were $20.97, below the estimate of $21.43 [3] - Average Lives on Platform for Cases was 13 thousand, lower than the estimated 15.1 thousand [3] - Average PMPM Fees for Cases was $3,113, significantly higher than the estimated $2,859.51 [3] - Average Lives on Platform for Administrative Services was 1.26 million, slightly below the estimate of 1.27 million [3] Stock Performance - Evolent Health shares have returned -8.3% over the past month, contrasting with the Zacks S&P 500 composite's +4.9% change [4] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [4]