earnings
confidence high
sentiment neutral
materiality 0.75
Q3 revenue $50.1B (+12% YoY), GAAP EPS $5.32, adj. EPS $6.03; FY guidance reaffirmed
Elevance Health, Inc.
2025-Q3 EPS
reported $22.67
vs consensus $4.98
▲ beat
(+355.0%)
- Health Benefits operating revenue $42.2B (+10% YoY), operating margin 1.4%, medical membership ~45.4M.
- Carelon revenue $18.3B (+33% YoY), operating margin 4.2%; driven by acquisitions and pharmacy growth.
- Benefit expense ratio 91.3% (up 180 bps YoY) on elevated Medicare Part D trend; operating expense ratio improved 130 bps to 10.5%.
- Year-to-date operating cash flow $4.2B; Q3 share repurchases 2.9M shares at $303.48 avg price, $875M total.
- Dividend of $1.71/share declared, payable Dec 19, 2025 to holders of record Dec 5, 2025.