Overview
- Elevance reported third-quarter net income of $1.19 billion, GAAP earnings of $5.32 per share, and adjusted earnings of $6.03 per share.
- Revenue reached $50.71 billion, with adjusted revenue of $50.09 billion, exceeding analyst expectations tracked by LSEG and Zacks.
- The medical loss ratio was 91.3%, a touch below the 91.73% analyst estimate, with costs described as elevated but within expectations.
- The company maintained full-year guidance at $30 per share, updating investors after previously flagging higher costs in ACA individual and Medicaid plans in July.
- Management highlighted capital returns of $3.3 billion year to date through share repurchases and dividends.