We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Here's What Key Metrics Tell Us About Elevance Health (ELV) Q3 Earnings
Read MoreHide Full Article
For the quarter ended September 2023, Elevance Health (ELV - Free Report) reported revenue of $42.48 billion, up 7.2% over the same period last year. EPS came in at $8.99, compared to $7.53 in the year-ago quarter.
The reported revenue represents a surprise of -0.12% over the Zacks Consensus Estimate of $42.53 billion. With the consensus EPS estimate being $8.45, the EPS surprise was +6.39%.
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.
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 - Medicare - Medicare Advantage: 2,064 thousand versus 2,069.86 thousand estimated by 16 analysts on average.
Medical Membership - Individual: 999 thousand versus the 16-analyst average estimate of 968.32 thousand.
Benefit Expense Ratio: 86.8% versus 87.2% estimated by 16 analysts on average.
Medical Membership - Total Commercial Fee-Based: 26,922 thousand versus 26,999.65 thousand estimated by 16 analysts on average.
Revenue- Premiums: $35.26 billion versus the 17-analyst average estimate of $35.76 billion. The reported number represents a year-over-year change of +4.6%.
Revenue- Net investment income: $493 million compared to the $408.65 million average estimate based on 17 analysts. The reported number represents a change of +32.9% year over year.
Revenue- Service fees: $2.04 billion compared to the $1.95 billion average estimate based on 16 analysts. The reported number represents a change of +5.9% year over year.
Total operating revenue- Carelon: $11.89 billion versus $11.87 billion estimated by 15 analysts on average.
Revenue- Product revenue: $5.18 billion compared to the $4.79 billion average estimate based on 15 analysts. The reported number represents a change of +30.3% year over year.
Total operating revenue- Health Benefits: $36.74 billion versus $37.34 billion estimated by 15 analysts on average.
Total operating revenue- Corporate & Other: $242 million versus $246.35 million estimated by 13 analysts on average.
Total operating revenue- Eliminations: -$6.40 billion versus -$6.95 billion estimated by 11 analysts on average. Compared to the year-ago quarter, this number represents a +5.7% change.
Shares of Elevance Health have returned +6.1% over the past month versus the Zacks S&P 500 composite's -1.6% 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Here's What Key Metrics Tell Us About Elevance Health (ELV) Q3 Earnings
For the quarter ended September 2023, Elevance Health (ELV - Free Report) reported revenue of $42.48 billion, up 7.2% over the same period last year. EPS came in at $8.99, compared to $7.53 in the year-ago quarter.
The reported revenue represents a surprise of -0.12% over the Zacks Consensus Estimate of $42.53 billion. With the consensus EPS estimate being $8.45, the EPS surprise was +6.39%.
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.
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 - Medicare - Medicare Advantage: 2,064 thousand versus 2,069.86 thousand estimated by 16 analysts on average.
- Medical Membership - Individual: 999 thousand versus the 16-analyst average estimate of 968.32 thousand.
- Benefit Expense Ratio: 86.8% versus 87.2% estimated by 16 analysts on average.
- Medical Membership - Total Commercial Fee-Based: 26,922 thousand versus 26,999.65 thousand estimated by 16 analysts on average.
- Revenue- Premiums: $35.26 billion versus the 17-analyst average estimate of $35.76 billion. The reported number represents a year-over-year change of +4.6%.
- Revenue- Net investment income: $493 million compared to the $408.65 million average estimate based on 17 analysts. The reported number represents a change of +32.9% year over year.
- Revenue- Service fees: $2.04 billion compared to the $1.95 billion average estimate based on 16 analysts. The reported number represents a change of +5.9% year over year.
- Total operating revenue- Carelon: $11.89 billion versus $11.87 billion estimated by 15 analysts on average.
- Revenue- Product revenue: $5.18 billion compared to the $4.79 billion average estimate based on 15 analysts. The reported number represents a change of +30.3% year over year.
- Total operating revenue- Health Benefits: $36.74 billion versus $37.34 billion estimated by 15 analysts on average.
- Total operating revenue- Corporate & Other: $242 million versus $246.35 million estimated by 13 analysts on average.
- Total operating revenue- Eliminations: -$6.40 billion versus -$6.95 billion estimated by 11 analysts on average. Compared to the year-ago quarter, this number represents a +5.7% change.
View all Key Company Metrics for Elevance Health here>>>Shares of Elevance Health have returned +6.1% over the past month versus the Zacks S&P 500 composite's -1.6% 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.