Elevance Health, Inc. SEC 10-Q Report
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Elevance Health, Inc., a leading health benefits company, has released its Form 10-Q report for the third quarter, providing a comprehensive overview of its financial and operational performance. The report highlights significant changes in revenue, income, and strategic business initiatives that are shaping the company's future.
Financial Highlights
Elevance Health, Inc. reported robust financial performance for the third quarter, with key metrics reflecting both growth and challenges:
- Total Revenues: $49,776 million, reflecting a significant increase from the previous year, driven by higher premiums and product revenue.
- Operating Income: $2,292 million, indicating a decrease compared to the previous year, primarily due to increased benefit expenses.
- Net Income: $1,744 million, showing a decline from the prior year, impacted by higher operating expenses and interest expenses.
- Shareholders’ Net Income: $1,743 million, with a decrease in earnings per share due to increased expenses.
- Diluted EPS: $7.72, down from the previous year, reflecting the impact of increased expenses on net income.
Business Highlights
Elevance Health, Inc. continues to make strategic moves to enhance its market position and operational efficiency:
- Revenue Segments: The company reports its operations in four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. The Health Benefits segment includes network-based managed care risk-based plans for Individual, Employer Group, Medicaid, and Medicare markets. CarelonRx provides pharmacy services, while Carelon Services offers healthcare-related services and capabilities.
- Geographical Performance: Elevance Health operates as the Blue Cross licensee in several states, including California, Colorado, Connecticut, Georgia, Indiana, Kentucky, Maine, Missouri, Nevada, New Hampshire, New York, Ohio, Virginia, and Wisconsin. The company also serves members in numerous states under brands like Wellpoint, Carelon, MMM, and Simply Healthcare.
- New Product Launches: The company completed the acquisition of Centers Plan for Healthy Living LLC and Centers for Specialty Care Group IPA, LLC, expanding its managed long-term care plan offerings in New York state for Medicaid and dual-eligible Medicaid/Medicare members.
- New Production Launches: Elevance Health acquired CareBridge, a value-based healthcare company, to enhance its home and community-based services for Medicaid and dual-eligible Medicaid/Medicare members, aligning with Carelon Services’ care at home strategy.
- Future Outlook: Elevance Health continues to focus on enhancing operating efficiency and refining its investment focus through the 2023-2024 Business Efficiency Program. The company aims to optimize its physical footprint and improve its service offerings across its segments.
SEC Filing: Elevance Health, Inc. [ ELV ] - 10-Q - Jul. 17, 2025