earnings
confidence high
sentiment negative
materiality 0.85
Elevance Health Q3 adjusted EPS $8.37; FY2024 guidance cut to ~$33.00
Elevance Health, Inc.
2024-Q3 EPS reported
$23.81
revenue$131,569,000,000
- Q3 2024 operating revenue $44.7B, up $2.2B YoY; diluted EPS $4.36 GAAP, adjusted $8.37.
- Benefit expense ratio 89.5%, up 270 bps driven by Medicaid rate-acuity mismatch; operating margin 3.1% (adj 5.3%).
- Medical membership ~45.8M, down 1.5M (3%) due to Medicaid attrition and footprint adjustments.
- Board authorized $8.0B increase to share repurchase program; Q4 dividend $1.63/share declared.
- FY2024 GAAP EPS guidance ~$26.50, adjusted EPS ~$33.00, reflecting Medicaid headwinds.