Elevance Health (ELV - Free Report) reported $42.27 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 0.9%. EPS of $10.64 for the same period compares to $9.46 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $42.43 billion, representing a surprise of -0.36%. The company delivered an EPS surprise of +0.95%, with the consensus EPS estimate being $10.54.
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 - Total: 46,239 thousand versus 46,595.56 thousand estimated by 11 analysts on average.
- Medical Membership - Medicare - Medicare Advantage: 2,017 thousand versus the 11-analyst average estimate of 2,038.57 thousand.
- Medical Membership - Medicaid: 9,327 thousand versus the 11-analyst average estimate of 9,669.83 thousand.
- Medical Membership - Individual: 1,246 thousand compared to the 1,189.75 thousand average estimate based on 11 analysts.
- Revenue- Premiums: $35.70 billion versus $35.54 billion estimated by 12 analysts on average. Compared to the year-ago quarter, this number represents a -0.5% change.
- Revenue- Product revenue: $4.50 billion versus $4.61 billion estimated by 12 analysts on average. Compared to the year-ago quarter, this number represents a +11.9% change.
- Revenue- Net investment income: $465 million compared to the $501.70 million average estimate based on 12 analysts. The reported number represents a change of +20.2% year over year.
- Revenue- Service fees: $2.08 billion compared to the $2.15 billion average estimate based on 12 analysts.
- Total operating revenue- Carelon: $12.08 billion compared to the $12.47 billion average estimate based on 10 analysts.
- Total operating revenue- Health Benefits: $37.26 billion versus $37.02 billion estimated by 10 analysts on average.
- Total operating revenue- Eliminations: -$7.19 billion compared to the -$7.14 billion average estimate based on 10 analysts. The reported number represents a change of +3.1% year over year.
- Total operating revenue- Corporate & Other: $127 million versus the nine-analyst average estimate of $239.28 million.
View all Key Company Metrics for Elevance Health here>>>Shares of Elevance Health have returned -1% over the past month versus the Zacks S&P 500 composite's -1.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
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Elevance Health (ELV - Free Report) reported $42.27 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 0.9%. EPS of $10.64 for the same period compares to $9.46 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $42.43 billion, representing a surprise of -0.36%. The company delivered an EPS surprise of +0.95%, with the consensus EPS estimate being $10.54.
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 - Total: 46,239 thousand versus 46,595.56 thousand estimated by 11 analysts on average.
- Medical Membership - Medicare - Medicare Advantage: 2,017 thousand versus the 11-analyst average estimate of 2,038.57 thousand.
- Medical Membership - Medicaid: 9,327 thousand versus the 11-analyst average estimate of 9,669.83 thousand.
- Medical Membership - Individual: 1,246 thousand compared to the 1,189.75 thousand average estimate based on 11 analysts.
- Revenue- Premiums: $35.70 billion versus $35.54 billion estimated by 12 analysts on average. Compared to the year-ago quarter, this number represents a -0.5% change.
- Revenue- Product revenue: $4.50 billion versus $4.61 billion estimated by 12 analysts on average. Compared to the year-ago quarter, this number represents a +11.9% change.
- Revenue- Net investment income: $465 million compared to the $501.70 million average estimate based on 12 analysts. The reported number represents a change of +20.2% year over year.
- Revenue- Service fees: $2.08 billion compared to the $2.15 billion average estimate based on 12 analysts.
- Total operating revenue- Carelon: $12.08 billion compared to the $12.47 billion average estimate based on 10 analysts.
- Total operating revenue- Health Benefits: $37.26 billion versus $37.02 billion estimated by 10 analysts on average.
- Total operating revenue- Eliminations: -$7.19 billion compared to the -$7.14 billion average estimate based on 10 analysts. The reported number represents a change of +3.1% year over year.
- Total operating revenue- Corporate & Other: $127 million versus the nine-analyst average estimate of $239.28 million.
View all Key Company Metrics for Elevance Health here>>>Shares of Elevance Health have returned -1% over the past month versus the Zacks S&P 500 composite's -1.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>
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