Elevance Health(US:ELV)2024-04-18 14:01Financial Performance - Elevance Health's 1Q 2024 adjusted operating gain increased by 7.3% year-over-year, reaching $3.1 billion[2] - Adjusted diluted EPS for 1Q 2024 was $10.64, a 12.5% increase year-over-year[35] - The company raised its 2024 adjusted diluted EPS guidance to greater than $37.20, reflecting at least 12% year-over-year growth[15] - Net investment income increased by 20.2% to $465 million[35] Segment Results - Carelon's operating revenue for 1Q 2024 was $12.1 billion, a 5.2% increase from $11.5 billion in 1Q 2023[5] - Carelon's operating gain for 1Q 2024 was $813 million, a 9.7% increase from $741 million in 1Q 2023[5] - Health Benefits operating revenue was $37.3 billion, a 0.1% decrease year-over-year[17] - Health Benefits operating gain increased by 6.4% to $2.3 billion[17] - Carelon Services operating revenue grew by 16% to $4.0 billion, with an operating gain up 27% to $290 million[19] - CarelonRx operating revenue was $8.1 billion, with an operating gain up 2% to $523 million[37] Key Metrics - The Medical Loss Ratio (MLR) was 85.6%, a decrease of 20 basis points[35] - The Adjusted Operating Expense Ratio was 11.4%[35] - Health Benefits membership decreased by 3.9% to 46.2 million[17]