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Here's What Key Metrics Tell Us About Elevance Health (ELV) Q1 Earnings
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For the quarter ended March 2026, Elevance Health (ELV - Free Report) reported revenue of $49.49 billion, up 1.5% over the same period last year. EPS came in at $12.58, compared to $11.97 in the year-ago quarter.
The reported revenue represents a surprise of +3.68% over the Zacks Consensus Estimate of $47.74 billion. With the consensus EPS estimate being $10.68, the EPS surprise was +17.74%.
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:
Benefit Expense Ratio: 86.8% versus 87.5% estimated by 14 analysts on average.
Medical Membership - Commercial Risk-Based: 4.86 million versus the 14-analyst average estimate of 4.37 million.
Total Medical Membership: 45.42 million versus the 14-analyst average estimate of 44.05 million.
Medical Membership - Federal Employees Health Benefits: 1.56 million versus 1.59 million estimated by 14 analysts on average.
Revenues- Product revenue: $6.23 billion versus the 16-analyst average estimate of $6.09 billion. The reported number represents a year-over-year change of +7.2%.
Revenues- Premiums: $41.02 billion versus $40 billion estimated by 16 analysts on average. Compared to the year-ago quarter, this number represents a +0.3% change.
Revenues- Service fees: $2.25 billion versus the 16-analyst average estimate of $2.13 billion. The reported number represents a year-over-year change of +8.5%.
Revenues- Net investment income: $765 million versus $480.61 million estimated by 16 analysts on average. Compared to the year-ago quarter, this number represents a +29.7% change.
Total operating revenue- Eliminations: $-10.97 billion compared to the $-10.2 billion average estimate based on 15 analysts. The reported number represents a change of +15.6% year over year.
Total operating revenue- Carelon: $17.97 billion versus the 15-analyst average estimate of $17.53 billion. The reported number represents a year-over-year change of +7.9%.
Total operating revenue- Carelon Services: $7.37 billion versus $7.11 billion estimated by 15 analysts on average. Compared to the year-ago quarter, this number represents a +12.7% change.
Total operating revenue- CarelonRx: $10.6 billion compared to the $10.42 billion average estimate based on 15 analysts. The reported number represents a change of +4.8% year over year.
Shares of Elevance Health have returned +13% over the past month versus the Zacks S&P 500 composite's +8.6% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Here's What Key Metrics Tell Us About Elevance Health (ELV) Q1 Earnings
For the quarter ended March 2026, Elevance Health (ELV - Free Report) reported revenue of $49.49 billion, up 1.5% over the same period last year. EPS came in at $12.58, compared to $11.97 in the year-ago quarter.
The reported revenue represents a surprise of +3.68% over the Zacks Consensus Estimate of $47.74 billion. With the consensus EPS estimate being $10.68, the EPS surprise was +17.74%.
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:View all Key Company Metrics for Elevance Health here>>>
Shares of Elevance Health have returned +13% over the past month versus the Zacks S&P 500 composite's +8.6% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.