Elevance Health Q3 adj. EPS $8.99, revenue $42.5B (+7.2%); raises FY23 guidance

Elevance Health, Inc.

2023-Q3 EPS reported $21.56 revenue$128,693,000,000

GAAP EPS $5.45 includes $3.54/share net negative items; adjusted EPS $8.99.
Operating revenue $42.5B, up 7.2% YoY; benefit expense ratio improved 40 bps to 86.8%.
Medical membership 47.3M, down 664K sequentially due to Medicaid redeterminations and competitor entry.
Company raises FY2023 guidance: GAAP EPS >$26.40, adjusted EPS >$33.00.
Q3 includes $697M business optimization charge; operating cash flow $2.6B, 2.0x net income.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Elevance Health, Inc. reported the quarter ended September 30, 2023 results: revenue $42.5 billion, net income $5.45 per share, EPS $5.45 per share. Guidance raised.

Period: the quarter ended September 30, 2023
Revenue: $42.5 billion
Net income: $5.45 per share
EPS: $5.45 per share
Guidance: raised
Result: reported results

Exact text from the filing

third quarter of 2023, medical membership decreased by 664 thousand driven by attrition in Medicaid due to the aforementioned dynamics. Operating Revenue: Operating revenue was $42.5 billion in the third quarter of 2023, an increase of $2.9 billion, or 7.2 percent year-over-year. The increase was primarily driven by higher premium revenue in our Health Benefits

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Source: SEC EDGAR

accession 0001193125-23-258013

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