ANTM - Anthem beats Q2 forecast driven by government business; lifts 2021 guidance

CharlieAJA/iStock via Getty Images Anthem (ANTM) is trading ~1.0% higher in the pre-market after the company managed to exceed expectations for its Q2 2021 financials. Operating revenue grew by 14.1% YoY to $33.3B driven by higher premium revenue linked to growth in Medicaid and Medicare. The revenue from premiums rose ~13.7% YoY to $28.5B while product revenue jumped ~19.6% YoY to $3.0B. The revenue from Anthem’s pharmacy benefit manager IngenioRx and government business rose ~18.0% YoY and ~16.4% YoY, respectively. Compared to ~43.5M members in Q1 2021, the company posted ~44.3M members in Q2 2021 after the medical enrollment increased by 1.9 million members during the quarter. GAAP net income per share dropped to $7.25 with a ~18.6% YoY decline from $8.91 per share in the previous year quarter as medical-loss ratio rose to ~88.6% in Q2 2021 reflecting an increase of 890bps from Q2 2020. Anthem now projects medical memberships for

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Anthem beats Q2 forecast driven by government business; lifts 2021 guidance