ELV - Elevance Health Clocks $2.2B Q1 Net Profit Despite 21% Drop In Medicaid Enrollment Lifts Annual Guidance | Benzinga
Elevance Health Inc. (NYSE:ELV) reported first-quarter revenues of $42.3 billion, up 0.9% year over year, marginally missing the consensus of $42.6 billion.
Higher premium yields drove this increase to reflect medical cost trends and growth in Carelon, including a full quarter of revenue from BioPlus, partially offset by attrition in Medicaid membership.
“First quarter results reflect disciplined execution of our strategic initiatives during a dynamic time for our industry,” CEO Gail Boudreaux said. “We are making significant progress expanding Carelon’s capabilities, scaling our flywheel for enterprise growth, and delivering results for all stakeholders.”