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Compared to Estimates, Elevance Health (ELV) Q1 Earnings: A Look at Key Metrics
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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.
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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Compared to Estimates, Elevance Health (ELV) Q1 Earnings: A Look at Key Metrics
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.