ANTM - Anthem Q1 top-line up 9%; raised 2021 EPS guidance tops consensus
Anthem (ANTM) reports Q1 results for period ended March 31, 2021.Operating revenue of $32.1B, an increase of 9.0% from prior year and 10.7% after adjusting for the health insurance tax.The increase was driven by higher premium revenue due to growth in Medicaid and Medicare.Commercial & Specialty Business sales up 1.4% Y/Y to $9.5B. Revenue from Government Business grew 10.4% Y/Y to $19.3B.IngenioRx revenue increased 12.8% over prior year to $5.9B.Benefit expense ratio of 85.6% vs. estimate of 87.4. Operating margin of 6.7% vs. 7.5% in prior year.Total Medical Membership increased 3.3% over prior year to 43.5M.GAAP EPS rose 13.0% Y/Y to $6.71. Non-GAAP EPS of $7.01, +8.2% over prior year.Net cash provided by operating activities of $2.5B, slightly lower than $2.52B in prior year.The company also provides outlook for FY 2021. Operating revenue is anticipated to be ~$135.1B (unchanged from previous), consensus $135.71B.Anthem raised Non-GAAP EPS guidance to >$25.10 from
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Anthem Q1 top-line up 9%; raised 2021 EPS guidance tops consensus