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Elevance Health (ELV) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
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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%.
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) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
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.