ELV - Health Insurer Elevance Health Stock Gains On Q3 Performance - Lower Medical Costs Raised Outlook And More | Benzinga
Elevance Health Inc (NYSE: ELV) has reported Q3 FY23 adjusted EPS of $8.99, up 20.5% Y/Y, beating the consensus of $8.45.
Operating revenue was $42.50 billion, up 7.2% Y/Y, primarily driven by higher premium revenue in the Health Benefits business and pharmacy product revenue in CarelonRx due to growth in external pharmacy members served and the acquisition of BioPlus in Q1 of 2023.
The benefit expense ratio was 86.8%, an improvement of 40 basis points, driven by premium rate ...