Elevance Health's Stock Surges as Q1 Earnings Exceed Expectations

Despite a significant drop in Medicaid enrollment, Elevance Health reports a robust first-quarter profit, raising its annual earnings guidance.

Elevance Health's first-quarter earnings per share reached $10.64, surpassing analysts' expectations and driving a nearly 4% increase in stock value.
The company reported a $2.2 billion net profit for Q1, despite a 21% decrease in Medicaid enrollment.
Revenue increased slightly by 0.9% to $42.3 billion, with premium revenue experiencing a marginal decline.
Elevance Health raised its full-year earnings per share forecast to over $37.20, up from previous estimates.
The company's operational improvements included a lowered benefit expense ratio and an expanded operating margin.