Elevance Health, Inc.: Beat — EPS $6.99, Revenue $50.44B
Earnings BeatQ3 2026 · Pre-market
@trystockwhiz
Did Elevance Health, Inc. (ELV) beat earnings today?
Yes, Elevance Health, Inc. (ELV) beat Wall Street analyst expectations for Q3 2026, reporting higher-than-expected EPS and higher-than-expected revenue.
Earnings Per Share+49.04% surprise
$6.99Actual
Expected: $4.69
vs. year ago +15.9%
Total Revenue+2.60% surprise
$50.44BActual
Expected: $49.16B
vs. year ago +0.7%
Released Oct 21 · 6:00 AM ET
Earning Report
| Metric | Q3 2026 | Q3 2025 | YoY Change % |
|---|---|---|---|
| Operating Revenue | $50.44B | $50.09B | +0.7% |
| Operating Revenue breakdown | |||
| └─Premiums | $41.70B | $41.79B | -0.2% |
| └─Product revenue | $6.45B | $6.16B | +4.8% |
| └─Service fees | $2.28B | $2.14B | +6.8% |
| └─Health Benefits | $43.36B | $42.25B | +2.6% |
| └─CarelonRx | $11.60B | $11.00B | +5.5% |
| └─Carelon Services | $7.71B | $7.32B | +5.2% |
| └─Corporate & Other | $6.00M | $149.00M | -96.0% |
| └─Eliminations | ($12.23B) | ($10.63B) | - |
| Net Income | $1.34B | $1.19B | +13.1% |
| GAAP Diluted EPS | $6.27 | $5.32 | +17.9% |
| Adjusted Diluted EPS | $6.99 | $6.03 | +15.9% |
| Commercial | $13.34B | $12.85B | +3.8% |
| Individual | $2.51B | $2.36B | +6.6% |
| Medicare | $11.23B | $11.14B | +0.8% |
| Medicaid | $14.98B | $14.17B | +5.7% |
| Federal Employee Program | $3.81B | $4.09B | -7.0% |
Financial Outlook / Guidance
| Metric | Next Quarter Outlook | FY 2026 Outlook |
|---|---|---|
| Diluted EPS | — | At least $22.00 |
| Adjusted Diluted EPS | — | At least $29.00 |
| Operating Cash Flow | — | At least $6.5B |
Business Highlights
- ➤Investing in capabilities to improve member experience and strengthen competitive advantage.
- ➤Carelon Services continued expanding risk-based solutions.
- ➤CarelonRx product offerings supported the company’s diversified portfolio.
- ➤Repurchased 0.8 million shares during the third quarter.
- ➤Paid a quarterly $1.72 per-share dividend during the third quarter.
- ➤Had approximately $5.0 billion of share-repurchase authorization remaining.
- ➤Board declared a fourth-quarter $1.72 per-share dividend payable December 18, 2026.
- ➤Health Benefits integrates Individual, employer, BlueCard, Medicare, Medicaid and Federal Employee Program businesses.
- ➤Carelon comprises CarelonRx and Carelon Services.
- ➤The company serves approximately 103 million consumers across medical, pharmacy and care solutions.
Management Commentary
Gail K. Boudreaux, President and Chief Executive Officer
“Elevance Health's third quarter results reflect stronger execution across our diversified portfolio and underscore the earnings power of the business. We are raising our 2026 earnings outlook and remain confident in delivering at least 12% growth in adjusted diluted earnings per share in 2027 from our higher earnings baseline of at least $26.75(3). By bringing together the capabilities of our Health Benefits business and Carelon, we are improving the healthcare experience, strengthening our competitive advantage, and creating long-term value for our shareholders.”