Elevance Health posted a net income of about $1.2 billion during the third quarter, up 17.8% from roughly $1 billion at the same time last year, according to an Oct. 21 earnings statement.
“Our third-quarter results were in line with expectations and reflect disciplined execution across Elevance Health. In a dynamic healthcare environment, we’re focused on advancing affordability and elevating the member experience through our growing value-based care partnerships and AI-enabled digital solutions that simplify access and improve outcomes,” Elevance President and CEO Gail Boudreaux said in an Oct. 21 company news release. “As we plan for 2026, we remain disciplined in managing what we can control — positioning our businesses for long-term, sustainable growth and value creation for all stakeholders.”
Total revenues reached $50.7 billion, which marked a 12% increase year over year. Total expenses were up nearly 13%, at $49.3 billion.
Guidance for adjusted diluted earnings per share is hovering around $30 for the full year.
Elevance’s healthcare services company, Carelon, reported a total operating revenue of $18.3 billion, 33% higher than 2024’s third quarter. The operating gain was roughly the same as last year, at around $1 billion.
Elevance’s benefit expense ratio was 91.3%, a 180-basis-point increase year over year. An anticipated cost trend, especially in Medicare, drove this steeper ratio. Days in claims payable was nearly 43 days as of the end of September.
Total medical membership stood at 45.4 million, almost 1% lower year over year, due to reduced BlueCard and Medicaid membership. The company had roughly 8.6 million Medicaid members and 2.2 million Medicare Advantage members.
