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Elevance Health (ELV) Reports Q1 Earnings: What Key Metrics Have to Say
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For the quarter ended March 2023, Elevance Health (ELV - Free Report) reported revenue of $41.9 billion, up 10.6% over the same period last year. EPS came in at $9.46, compared to $8.25 in the year-ago quarter.
The reported revenue represents a surprise of +2.48% over the Zacks Consensus Estimate of $40.89 billion. With the consensus EPS estimate being $9.26, the EPS surprise was +2.16%.
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:
Benefit Expense Ratio: 85.8% compared to the 86.01% average estimate based on 15 analysts.
Medical Membership - Medicare - Medicare Supplement: 925 thousand versus the 14-analyst average estimate of 943.2 thousand.
Medical Membership - Group Risk-Based: 3798 thousand versus the 14-analyst average estimate of 3876.93 thousand.
Medical Membership - Total Commercial Risk-Based: 4740 thousand versus 4755.51 thousand estimated by 14 analysts on average.
Medical membership - Total: 48124 thousand versus 47855.96 thousand estimated by 14 analysts on average.
Medical Membership - Medicare - Medicare Advantage: 2053 thousand versus the 14-analyst average estimate of 2034.33 thousand.
Medical Membership - Medicaid / State Sponsored: 11889 thousand versus 11593.47 thousand estimated by 14 analysts on average.
Revenue- Premiums: $35.87 billion versus $35.12 billion estimated by 15 analysts on average. Compared to the year-ago quarter, this number represents a +9.4% change.
Revenue- Net investment income: $387 million versus the 15-analyst average estimate of $386.59 million. The reported number represents a year-over-year change of +7.5%.
Revenue- Product revenue: $4.02 billion compared to the $3.80 billion average estimate based on 14 analysts. The reported number represents a change of +21.8% year over year.
Total operating revenue- CarelonRx: $8.02 billion versus $7.44 billion estimated by 12 analysts on average. Compared to the year-ago quarter, this number represents a +20.1% change.
Total operating revenue- Eliminations: -$6.97 billion versus -$6.57 billion estimated by 11 analysts on average.
Shares of Elevance Health have returned +2.9% over the past month versus the Zacks S&P 500 composite's +6.2% 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) Reports Q1 Earnings: What Key Metrics Have to Say
For the quarter ended March 2023, Elevance Health (ELV - Free Report) reported revenue of $41.9 billion, up 10.6% over the same period last year. EPS came in at $9.46, compared to $8.25 in the year-ago quarter.
The reported revenue represents a surprise of +2.48% over the Zacks Consensus Estimate of $40.89 billion. With the consensus EPS estimate being $9.26, the EPS surprise was +2.16%.
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:
- Benefit Expense Ratio: 85.8% compared to the 86.01% average estimate based on 15 analysts.
- Medical Membership - Medicare - Medicare Supplement: 925 thousand versus the 14-analyst average estimate of 943.2 thousand.
- Medical Membership - Group Risk-Based: 3798 thousand versus the 14-analyst average estimate of 3876.93 thousand.
- Medical Membership - Total Commercial Risk-Based: 4740 thousand versus 4755.51 thousand estimated by 14 analysts on average.
- Medical membership - Total: 48124 thousand versus 47855.96 thousand estimated by 14 analysts on average.
- Medical Membership - Medicare - Medicare Advantage: 2053 thousand versus the 14-analyst average estimate of 2034.33 thousand.
- Medical Membership - Medicaid / State Sponsored: 11889 thousand versus 11593.47 thousand estimated by 14 analysts on average.
- Revenue- Premiums: $35.87 billion versus $35.12 billion estimated by 15 analysts on average. Compared to the year-ago quarter, this number represents a +9.4% change.
- Revenue- Net investment income: $387 million versus the 15-analyst average estimate of $386.59 million. The reported number represents a year-over-year change of +7.5%.
- Revenue- Product revenue: $4.02 billion compared to the $3.80 billion average estimate based on 14 analysts. The reported number represents a change of +21.8% year over year.
- Total operating revenue- CarelonRx: $8.02 billion versus $7.44 billion estimated by 12 analysts on average. Compared to the year-ago quarter, this number represents a +20.1% change.
- Total operating revenue- Eliminations: -$6.97 billion versus -$6.57 billion estimated by 11 analysts on average.
View all Key Company Metrics for Elevance Health here>>>Shares of Elevance Health have returned +2.9% over the past month versus the Zacks S&P 500 composite's +6.2% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.