ANTM - Anthem Q3 top-line up 16%; maintains non-GAAP EPS outlook

Anthem (ANTM) Q3 results:Revenues: $30.65B (+15.9%) vs consensus of $29.88B; Commercial & Specialty Business: $9,326M (+0.5%); Government Business: $18,101M (+13.5%); IngenioRx: $5,582M (+190.4%).Net Income: $222M (-81.2%); EPS: $0.87 (-80.9%); non-GAAP Net Income: $1,068M (-15.7%); non-GAAP EPS: $4.20 (-13.8%) vs consensus of $4.18.CF Ops: $6,875M (+45.23%).Total Medical Membership: 42.6M (+4.0%); Self-Funded Medical Membership: 25.6M (+1.0%); Fully-Insured Medical Membership: 16.9M (+8.8%).Benefit Expense Ratio: 86.8%, a decrease of 40 bps from 87.2% in Q2 2020.During 3Q 2020, the Company paid a quarterly dividend of $0.95 per share, representing a distribution of cash totaling $238M and declared 4Q dividend of $0.95 per share, payable on December 22 to shareholders of record at the close of business on December 7.2020 Guidance: GAAP EPS: >$17.87 from >$20.91; Non-GAAP EPS: >$22.30 (unch).Shares down 3% PM.Previously: Anthem EPS beats by $0.02, beats on revenue (Oct.28).

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Anthem Q3 top-line up 16%; maintains non-GAAP EPS outlook