ELV - Health Insurer Elevance's Q4 Earnings: Dividend Increase Drop In Medicaid Enrollment Upbeat 2024 Outlook | Benzinga
Elevance Health Inc (NYSE:ELV) posted fourth-quarter 2023 revenues of $42.45 billion, up nearly 7% Y/Y, beating the consensus of $42.09 billion.
The increase was driven by higher premium revenue in the Health Benefits segment and growth in pharmacy product revenue in CarelonRx.
Profit declined slightly year-over-year. In the fourth quarter of 2022, Elevance Health reported $856 million in profit, down 1% Y/Y.
The insurer reported adjusted EPS of $5.62, up 15.2% Y/Y, and slightly missing the consensus of $5.64.
The benefit expense ratio was 89.2% in the fourth quarter, an improvement of 50 basis points compared to the fourth quarter of 2022, and 87% for the ...