Elevance Health (ELV) reported $50.44 billion in revenue for the quarter ended September 2026, representing a year-over-year increase of 0.7%. EPS of $6.99 for the same period compares to $6.03 a year ago.
The reported revenue represents a surprise of +4.01% over the Zacks Consensus Estimate of $48.49 billion. With the consensus EPS estimate being $4.66, the EPS surprise was +50%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Elevance Health performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Total Medical Membership: 44.88 million versus the 10-analyst average estimate of 44.26 million. Medical Membership - Medicaid: 8.22 million versus the 10-analyst average estimate of 8.05 million. Medical Membership - Medicare - Medicare Supplement: 898 thousand versus the 10-analyst average estimate of 872.85 thousand. Medical Membership - Commercial Risk-Based - Employer Group Risk-Based: 3.37 million versus 3.34 million estimated by 10 analysts on average. Revenues- Net investment income: $1.04 billion versus $476.23 million estimated by 12 analysts on average. Compared to the year-ago quarter, this number represents a +65.9% change. Revenues- Service fees: $2.28 billion compared to the $2.26 billion average estimate based on 12 analysts. The reported number represents a change of +6.8% year over year. Revenues- Premiums: $41.7 billion versus the 12-analyst average estimate of $39.73 billion. The reported number represents a year-over-year change of -0.2%. Revenues- Product revenue: $6.45 billion compared to the $6.49 billion average estimate based on 12 analysts. The reported number represents a change of +4.8% year over year. Total operating revenue- Corporate & Other: $6 million versus the 11-analyst average estimate of $102.55 million. The reported number represents a year-over-year change of -96%. Total operating revenue- Carelon Services: $7.71 billion compared to the $7.36 billion average estimate based on 11 analysts. The reported number represents a change of +5.2% year over year. Total operating revenue- CarelonRx: $11.6 billion compared to the $11.28 billion average estimate based on 11 analysts. The reported number represents a change of +5.5% year over year. Total operating revenue- Health Benefits: $43.36 billion versus $41.4 billion estimated by 11 analysts on average. Compared to the year-ago quarter, this number represents a +2.6% change.View all Key Company Metrics for Elevance Health here>>>
Shares of Elevance Health have returned +9.4% over the past month versus the Zacks S&P 500 composite's +1% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.Zacks' Research Chief Names "Stock Most Likely to Double"
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