Published on 20 Jul 2022 on Benzinga via Yahoo Finance

Elevance Health Raises Annual Profit Guidance

Elevance Health Inc (NYSE: ELV), previously known as Anthem Inc, has reported Q2 FY22 adjusted EPS of $8.04, up 14.4% Y/Y, beating the consensus of $7.74.Operating revenue are up 15.6% to $38.5 billion, slightly beating the expectations of $38.13 billion, driven by higher premium revenue due to membership growth in Medicaid, MMM & Paramount Advantage acquisitions, and premium rate increases to cover overall cost trends.The benefit expense ratio was 87%, increasing 20 basis points versus the prior-year quarter.Operating cash flow was $2.5 billion, or 1.5x net income, increasing $769 million when compared year-over-year.Medical enrollment increased 6.1% Y/Y to 47.1 million members.The company announced a Q3 2022 dividend of $1.28 per share payable on September 23 with a record date of September 9.FY22 Outlook: Anthem expects FY22 adjusted EPS of more than $28.70 (consensus $28.64) versus prior guidance of $28.40.Price Action: ELV shares closed 3.46% higher at $497.43 on Tuesday.

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