Driven by Health Care Services, Low MLR, Elevance Posts Strong Third Quarter
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Oct 21, 2022
Elevance Health, Inc. (formerly Anthem) released its third-quarter financial results on Oct. 18, beating Wall Street consensus earnings projections and receiving praise from financial analysts. The insurer — which claims it passed UnitedHealth Group in total enrollment this year — said growing membership, the performance of the commercial insurance and health care services divisions, and lower-than-expected utilization all contributed to the strong results.
The managed care giant reported $7.53 in adjusted earnings per share (EPS), beating the Wall Street consensus projection of $7.15. Membership grew by 232,000 to 47.3 million total members during the quarter, raising the year’s cumulative enrollment growth to 2.2 million. Executives project a fourth-quarter dividend of $1.28 per share, with end of year EPS “greater than $28.95 per share,” according to a press release.
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