2024

Rice

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<p class="has-drop-cap">Elevance Health, Inc. (NYSE: ELV) has reported its financial results for the <a aria-label="first quarter of 2024 (opens in a new tab)" href="https://www.elevancehealth.com/content/dam/elevance-health/documents/earnings/1Q2024_ELV_Earnings_Release.pdf" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">first quarter of 2024</a>, showcasing disciplined execution and strategic advancements in the healthcare industry. The company’s operating revenue for the quarter was $42.3 billion, a 0.9% increase from the first quarter of 2023.</p> 
<p>This growth was primarily driven by higher premium yields aligned with medical cost trends and development in Carelon, including a full quarter of revenue from BioPlus, which was acquired in February 2023. However, this growth was partially offset by attrition in Medicaid membership.</p> 
<p>Additionally, the company saw a 15.5% increase in diluted EPS to $9.59 and a 12.5% increase in adjusted diluted EPS to $10.64, reflecting strong financial performance and operational efficiency.</p> 
<h3 id="elevance-health-beats-eps-expectations-in-q1-misses-on-revenue">Elevance Health Beats EPS Expectations in Q1, Misses on Revenue</h3> 
<p>Elevance Health’s performance in the first quarter of 2024 has exceeded expectations in some areas while narrowly missing others. Analysts had projected an <a href="https://tokenist.com/investing/how-to-value-a-stock/" rel="dofollow" class="deco-link">EPS</a> of $10.48 and revenue of $42.47 billion for the quarter. The actual EPS of $10.64 surpassed expectations, demonstrating the company’s ability to generate profit beyond what was anticipated.</p> 
<p>However, revenue of $42.3 billion fell slightly short of the forecast, indicating a minor deviation in growth projections. Despite this, the company’s overall financial health remains robust, with significant improvements in operating gain and margin compared to the previous year.</p> 
<p>The operating gain for the quarter was $3.0 billion, up from $2.8 billion in 1Q 2023, and the operating margin improved to 7.1% from 6.8% in the same period.</p> 
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<h3 id="elevance-health-raises-guidance-for-2024-expects-net-income-per-diluted-share-to-be-over-34-05">Elevance Health Raises Guidance for 2024, Expects Net Income Per Diluted Share to Be Over $34.05 </h3> 
<p>Looking ahead, Elevance Health has raised its guidance for 2024, now expecting net income per diluted share to be greater than $34.05 and adjusted diluted net income per share to be greater than $37.20.</p> 
<p>This optimistic outlook is supported by the company’s strategic initiatives, including a significant partnership with Clayton, Dubilier &amp; Rice to advance primary care and physician enablement. This partnership is expected to accelerate innovation in care delivery, enhance healthcare experiences, and improve health outcomes, further advancing Elevance Health’s value-based care and physician enablement strategy.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe> 
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p> 
<h3 id="br"><br></h3> 
<p>The post <a rel="nofollow" href="https://tokenist.com/elevance-health-inc-elv-surpasses-eps-expectations-at-10-64-in-q1/">Elevance Health (ELV) Beats EPS Expectations at $10.64 in Q1, Revenue Miss</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Elevance Health (ELV) Beats EPS Expectations at $10.64 in Q1, Revenue Miss

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