Elevance Health (ELV - Free Report) reported $42.45 billion in revenue for the quarter ended December 2023, representing a year-over-year increase of 7%. EPS of $5.62 for the same period compares to $5.23 a year ago.
The reported revenue represents a surprise of +1.51% over the Zacks Consensus Estimate of $41.82 billion. With the consensus EPS estimate being $5.55, the EPS surprise was +1.26%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Elevance Health performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Medical Membership - Medicare - Medicare Advantage: 2,047 thousand versus the 14-analyst average estimate of 2,072.49 thousand.
- Medical Membership - Medicaid: 10,503 thousand versus 10,816.22 thousand estimated by 14 analysts on average.
- Medical Membership - Individual: 1,025 thousand versus the 14-analyst average estimate of 1,023.55 thousand.
- Benefit Expense Ratio: 89.2% compared to the 89.6% average estimate based on 14 analysts.
- Revenue- Net investment income: $529 million compared to the $465.65 million average estimate based on 14 analysts. The reported number represents a change of +41.8% year over year.
- Revenue- Premiums: $35.14 billion versus the 14-analyst average estimate of $34.72 billion. The reported number represents a year-over-year change of +4.4%.
- Total operating revenue- Corporate & Other: $181 million versus $243.63 million estimated by 13 analysts on average.
- Total operating revenue- Health Benefits: $36.55 billion versus the 13-analyst average estimate of $36.43 billion.
- Total operating revenue- Eliminations: -$6.68 billion versus -$6.74 billion estimated by 13 analysts on average. Compared to the year-ago quarter, this number represents a +6.6% change.
- Total operating revenue- Carelon: $12.40 billion versus $12.06 billion estimated by 13 analysts on average.
- Revenue- Product revenue: $5.39 billion versus the 13-analyst average estimate of $5.20 billion. The reported number represents a year-over-year change of +30.4%.
- Revenue- Service fees: $1.92 billion versus the 13-analyst average estimate of $1.95 billion. The reported number represents a year-over-year change of +2%.
View all Key Company Metrics for Elevance Health here>>>Shares of Elevance Health have returned +1.2% over the past month versus the Zacks S&P 500 composite's +2.4% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Elevance Health (ELV - Free Report) reported $42.45 billion in revenue for the quarter ended December 2023, representing a year-over-year increase of 7%. EPS of $5.62 for the same period compares to $5.23 a year ago.
The reported revenue represents a surprise of +1.51% over the Zacks Consensus Estimate of $41.82 billion. With the consensus EPS estimate being $5.55, the EPS surprise was +1.26%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Elevance Health performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Medical Membership - Medicare - Medicare Advantage: 2,047 thousand versus the 14-analyst average estimate of 2,072.49 thousand.
- Medical Membership - Medicaid: 10,503 thousand versus 10,816.22 thousand estimated by 14 analysts on average.
- Medical Membership - Individual: 1,025 thousand versus the 14-analyst average estimate of 1,023.55 thousand.
- Benefit Expense Ratio: 89.2% compared to the 89.6% average estimate based on 14 analysts.
- Revenue- Net investment income: $529 million compared to the $465.65 million average estimate based on 14 analysts. The reported number represents a change of +41.8% year over year.
- Revenue- Premiums: $35.14 billion versus the 14-analyst average estimate of $34.72 billion. The reported number represents a year-over-year change of +4.4%.
- Total operating revenue- Corporate & Other: $181 million versus $243.63 million estimated by 13 analysts on average.
- Total operating revenue- Health Benefits: $36.55 billion versus the 13-analyst average estimate of $36.43 billion.
- Total operating revenue- Eliminations: -$6.68 billion versus -$6.74 billion estimated by 13 analysts on average. Compared to the year-ago quarter, this number represents a +6.6% change.
- Total operating revenue- Carelon: $12.40 billion versus $12.06 billion estimated by 13 analysts on average.
- Revenue- Product revenue: $5.39 billion versus the 13-analyst average estimate of $5.20 billion. The reported number represents a year-over-year change of +30.4%.
- Revenue- Service fees: $1.92 billion versus the 13-analyst average estimate of $1.95 billion. The reported number represents a year-over-year change of +2%.
View all Key Company Metrics for Elevance Health here>>>Shares of Elevance Health have returned +1.2% over the past month versus the Zacks S&P 500 composite's +2.4% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
Just Released: Zacks Top 10 Stocks for 2024
Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.
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