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Elevance Health (ELV) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended June 2023, Elevance Health (ELV - Free Report) reported revenue of $43.38 billion, up 12.7% over the same period last year. EPS came in at $9.04, compared to $8.04 in the year-ago quarter.
The reported revenue represents a surprise of +4.48% over the Zacks Consensus Estimate of $41.52 billion. With the consensus EPS estimate being $8.82, the EPS surprise was +2.49%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: 47989 thousand compared to the 48002.87 thousand average estimate based on 15 analysts.
Medical Membership - Medicare - Medicare Advantage: 2059 thousand versus the 15-analyst average estimate of 2064.14 thousand.
Medical Membership - Medicaid / State Sponsored: 11759 thousand versus 11668.71 thousand estimated by 15 analysts on average.
Medical Membership - Federal Employees Health Benefits: 1634 thousand compared to the 1630.53 thousand average estimate based on 15 analysts.
Revenue- Premiums: $36.59 billion versus $35.49 billion estimated by 16 analysts on average.
Revenue- Product revenue: $4.86 billion versus $4.10 billion estimated by 16 analysts on average.
Revenue- Net investment income: $416 million compared to the $399.59 million average estimate based on 16 analysts.
Total operating revenue- Carelon: $11.91 billion compared to the $11.27 billion average estimate based on 14 analysts.
Total operating revenue- Health Benefits: $38 billion versus $36.91 billion estimated by 14 analysts on average.
Total operating revenue- Corporate & Other: $287 million compared to the $615.49 million average estimate based on 11 analysts.
Total operating revenue- Carelon Services: $3.44 billion versus the 11-analyst average estimate of $3.38 billion.
Total operating revenue- CarelonRx: $8.47 billion versus $8.13 billion estimated by 11 analysts on average.
Shares of Elevance Health have returned +1.3% over the past month versus the Zacks S&P 500 composite's +3.4% 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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Elevance Health (ELV) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended June 2023, Elevance Health (ELV - Free Report) reported revenue of $43.38 billion, up 12.7% over the same period last year. EPS came in at $9.04, compared to $8.04 in the year-ago quarter.
The reported revenue represents a surprise of +4.48% over the Zacks Consensus Estimate of $41.52 billion. With the consensus EPS estimate being $8.82, the EPS surprise was +2.49%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: 47989 thousand compared to the 48002.87 thousand average estimate based on 15 analysts.
- Medical Membership - Medicare - Medicare Advantage: 2059 thousand versus the 15-analyst average estimate of 2064.14 thousand.
- Medical Membership - Medicaid / State Sponsored: 11759 thousand versus 11668.71 thousand estimated by 15 analysts on average.
- Medical Membership - Federal Employees Health Benefits: 1634 thousand compared to the 1630.53 thousand average estimate based on 15 analysts.
- Revenue- Premiums: $36.59 billion versus $35.49 billion estimated by 16 analysts on average.
- Revenue- Product revenue: $4.86 billion versus $4.10 billion estimated by 16 analysts on average.
- Revenue- Net investment income: $416 million compared to the $399.59 million average estimate based on 16 analysts.
- Total operating revenue- Carelon: $11.91 billion compared to the $11.27 billion average estimate based on 14 analysts.
- Total operating revenue- Health Benefits: $38 billion versus $36.91 billion estimated by 14 analysts on average.
- Total operating revenue- Corporate & Other: $287 million compared to the $615.49 million average estimate based on 11 analysts.
- Total operating revenue- Carelon Services: $3.44 billion versus the 11-analyst average estimate of $3.38 billion.
- Total operating revenue- CarelonRx: $8.47 billion versus $8.13 billion estimated by 11 analysts on average.
View all Key Company Metrics for Elevance Health here>>>Shares of Elevance Health have returned +1.3% over the past month versus the Zacks S&P 500 composite's +3.4% 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.