Overview

• Elevance Health reported a Q1 2025 net income of $2.18 billion, a 3% decline from the prior year, in line with Wall Street expectations.
• Operating revenue for the quarter increased 15% year-over-year to $48.8 billion, fueled by higher premium yields and recent acquisitions.
• The Carelon health services segment achieved a 38% revenue growth to $16.7 billion, supported by acquisitions in home health and pharmacy services.
• Total medical membership grew by 99,000 to 45.8 million, with gains in Medicare Advantage and Commercial risk-based plans offsetting Medicaid declines.
• The benefit expense ratio rose to 86.4%, reflecting increased medical cost trends, particularly in Medicaid plans.