- 1Q 2024 operating revenue of $42.3 billion, up 0.9% from 1Q
2023
- 1Q 2024 diluted EPS1 of $9.59, up 15.5% from 1Q 2023 and
adjusted diluted EPS2 of $10.64, up 12.5%
- FY 2024 diluted EPS and adjusted diluted EPS guidance raised
to greater than $34.05 and $37.20, respectively
- Launching strategic partnership to advance primary care and
physician enablement
Elevance Health, Inc. (NYSE: ELV) reported first quarter 2024
results.
“First quarter results reflect disciplined execution of our
strategic initiatives during a dynamic time for our industry. We
are making significant progress expanding Carelon’s capabilities,
scaling our flywheel for enterprise growth, and delivering results
for all stakeholders. Given the solid start to the year, we have
increased our outlook for full year earnings. Earlier this week, we
also announced the next step in our journey to expand access to
high-quality, patient-centered, value-based care in our local
markets. This strategic partnership with Clayton, Dubilier &
Rice has the potential to accelerate innovation in care delivery,
enhance healthcare experiences, and improve health outcomes, all
while advancing our value-based care and physician enablement
strategy.”
Gail K. Boudreaux President and Chief Executive Officer
1.
Earnings per diluted share ("EPS").
2.
Refer to GAAP reconciliation tables.
Elevance Health
Consolidated Enterprise
Highlights
(Unaudited)
(In billions)
Three Months Ended
March 31, 2024
March 31, 2023
December 31, 2023
Operating Revenue1
$42.3
$41.9
$42.5
Operating Gain1,2
$3.0
$2.8
$1.3
Operating Margin1
7.1 %
6.8 %
3.0 %
1.
See “Basis of Presentation.”
2.
Operating Gain for the three months ended March 31, 2024 and
March 31, 2023, include items that are excluded from adjusted
shareholders' net income. See "GAAP Reconciliation."
Operating revenue was $42.3 billion in the first quarter of
2024, an increase of $0.4 billion, or approximately 1 percent
compared to the prior year quarter. This increase was driven by
higher premium yields to reflect medical cost trend, and growth in
Carelon, including a full quarter of revenue from BioPlus, which
closed in February of 2023, partially offset by attrition in
Medicaid membership.
The benefit expense ratio was 85.6 percent, an improvement of 20
basis points, driven primarily by premium rate adjustments to cover
medical cost trend in our Health Benefits business. Days in Claims
Payable was 49.0 days as of March 31, 2024, an increase of 1.7 days
from December 31, 2023, and an increase of 3.0 days compared to
March 31, 2023.
The operating expense ratio was 11.6 percent, an increase of 10
basis points due to investment and integration costs. Excluding
adjustment items, the operating expense ratio was unchanged at 11.4
percent.
Elevance Health now expects net income per diluted share to be
greater than $34.05 in 2024 and adjusted diluted net income per
share to be greater than $37.20.
Cash Flow & Balance Sheet
Operating cash flow for the first quarter was $2.0 billion, or
0.9 times net income. As of March 31, 2024, cash and investments at
the parent company totaled approximately $1.0 billion.
During the first quarter of 2024, the Company repurchased 1.1
million shares of its common stock for $566 million, at a weighted
average price of $492.76. As of March 31, 2024, the Company had
approximately $3.6 billion of Board approved share repurchase
authorization remaining. During the first quarter of 2024, the
Company paid a quarterly dividend of $1.63 per share, representing
a distribution of cash totaling $379 million.
Health Benefits is comprised of Individual, Employer
Group risk-based, Employer Group fee-based, BlueCard, Medicare,
Medicaid, and Federal Health Products & Services
businesses.
Health Benefits
Reportable Segment
Highlights
(Unaudited)
(In billions)
Three Months Ended
March 31, 2024
March 31, 2023
December 31, 2023
Operating Revenue1
$37.3
$37.3
$36.5
Operating Gain1,2
$2.3
$2.1
$0.8
Operating Margin1
6.1 %
5.8 %
2.1 %
1.
See “Basis of Presentation.”
2.
Operating Gain for the three months ended
March 31, 2023, has been restated for the realignment of Carelon
Global Solutions. See footnote 4 to the Reportable Segment
Highlight Details table.
Operating revenue was $37.3 billion in the first quarter of
2024, unchanged compared to the prior year quarter, as premium rate
increases to reflect medical cost trends were offset by Medicaid
membership attrition associated with eligibility redeterminations
and expected footprint adjustments.
Operating gain totaled $2.3 billion, an increase of 6 percent,
driven by premium yields, including disciplined commercial
underwriting.
Medical membership totaled approximately 46.2 million as of
March 31, 2024, a decrease of 1.9 million, or 4 percent compared to
the prior year quarter, driven by attrition in our Medicaid
business associated with eligibility redeterminations and expected
footprint adjustments. These membership losses were partially
offset by growth in our commercial Employer Group fee-based,
Affordable Care Act, and BlueCard membership.
Carelon is comprised of CarelonRx and Carelon
Services.
Carelon
Reportable Segment
Highlights
(Unaudited)
(In billions)
Three Months Ended
March 31, 2024
March 31, 2023
December 31, 2023
Operating Revenue1,2,3
$12.1
$11.5
$12.4
Operating Gain1,2,3
$0.8
$0.7
$0.6
Operating Margin1
6.7 %
6.5 %
4.8 %
1.
See “Basis of Presentation.”
2.
Operating Revenue and Operating Gain for
Carelon in millions for the three months ended March 31, 2024,
included $8,067 and $523 for CarelonRx; and $4,009 and $290 for
Carelon Services, respectively. Operating Revenue and Operating
Gain for Carelon for the three months ended March 31, 2023,
included $8,024 and $512 for CarelonRx; and $3,460 and $229 for
Carelon Services, respectively. Operating Revenue and Operating
Gain for Carelon for the three months ended December 31, 2023,
included $8,827 and $490 for CarelonRx; and $3,574 and $102 for
Carelon Services, respectively.
3.
Operating Revenue and Operating Gain for
the three months ended March 31, 2023, has been restated for the
realignment of Carelon Global Solutions. See footnote 4 to the
Reportable Segment Highlight Details table.
Operating revenue for Carelon was $12.1 billion in the first
quarter of 2024, an increase of $0.6 billion, or 5 percent compared
to the prior year quarter. This increase was driven by the launch
of new risk-based capabilities in Carelon Services and growth in
CarelonRx, including a full quarter of revenue from the acquisition
of BioPlus, which closed in February of 2023, and growth in
external customers served, partially offset by the impact of
Medicaid membership attrition on affiliated revenue streams.
Operating gain for Carelon totaled $0.8 billion, an increase of
$72 million, or 10 percent, primarily driven by improved
performance on certain risk-based arrangements in Carelon
Services.
Quarterly Dividend
On April 16, 2024, the Audit Committee of the Company's Board of
Directors declared a second quarter 2024 dividend to shareholders
of $1.63 per share. The second quarter dividend is payable on June
25, 2024, to shareholders of record at the close of business on
June 10, 2024.
About Elevance Health
Elevance Health is a lifetime, trusted health partner whose
purpose is to improve the health of humanity. The company supports
consumers, families, and communities across the entire healthcare
journey – connecting them to the care, support, and resources they
need to lead better lives. Elevance Health’s companies serve
approximately 115 million consumers through a diverse portfolio of
industry-leading medical, pharmacy, behavioral, clinical, and
complex care solutions. For more information, please visit
www.elevancehealth.com or follow us @ElevanceHealth on X and
Elevance Health on LinkedIn.
Conference Call and Webcast
Management will host a conference call and webcast today at 8:30
a.m. Eastern Daylight Time (“EDT”) to discuss the company’s first
quarter results and outlook. The conference call should be accessed
at least 15 minutes prior to the start of the call with the
following numbers:
888-947-9963 (Domestic)
800-876-4955 (Domestic Replay)
312-470-0178 (International)
203-369-3997 (International Replay)
The access code for today's conference call is 3972058. There is
no access code for the replay. The replay will be available from
11:30 a.m. EDT today, until the end of the day on May 17, 2024. The
call will also be available through a live webcast at
www.elevancehealth.com under the “Investors” link. A webcast replay
will be available following the call.
Basis of Presentation
1.
Operating revenue and operating gain/loss
are the key measures used by management to evaluate performance in
each of its reporting segments, allocate resources, set incentive
compensation targets and to forecast future operating performance.
Operating gain/loss is calculated as total operating revenue less
benefit expense, cost of products sold and operating expense. It
does not include net investment income, net gains/losses on
financial instruments, interest expense, amortization of other
intangible assets, gains/losses on extinguishment of debt or income
taxes, as these items are managed in a corporate shared service
environment and are not the responsibility of operating segment
management. Refer to the GAAP reconciliation tables.
2.
Operating margin is defined as operating
gain divided by operating revenue.
Elevance Health Earnings
Release Financial Schedules and Supplementary Information
Quarter Ended March 31, 2024
- Membership and Other Metrics
- Quarterly Consolidated Statements of Income
- Condensed Consolidated Balance Sheet
- Condensed Consolidated Statement of Cash Flows
- Supplemental Financial Information - Reportable
Segments
- Supplemental Financial Information - Reconciliation of
Medical Claims Payable
- Reconciliation of Non-GAAP Financial Measures
Elevance Health
Membership and Other
Metrics
(Unaudited)
Change from
Medical
Membership (in thousands)
March 31, 2024
March 31, 2023
December 31, 2023
March 31, 2023
December 31, 2023
Individual
1,246
942
1,025
32.3 %
21.6 %
Employer Group Risk-Based
3,648
3,798
3,756
(3.9) %
(2.9) %
Commercial Risk-Based
4,894
4,740
4,781
3.2 %
2.4 %
BlueCard®
6,825
6,607
6,838
3.3 %
(0.2) %
Employer Group Fee-Based
20,622
20,278
20,227
1.7 %
2.0 %
Commercial Fee-Based
27,447
26,885
27,065
2.1 %
1.4 %
Medicare Advantage
2,017
2,053
2,047
(1.8) %
(1.5) %
Medicare Supplement
896
925
923
(3.1) %
(2.9) %
Total Medicare
2,913
2,978
2,970
(2.2) %
(1.9) %
Medicaid
9,327
11,889
10,503
(21.5) %
(11.2) %
Federal Employees Health Benefits
1,658
1,632
1,642
1.6 %
1.0 %
Total Medical Membership
46,239
48,124
46,961
(3.9) %
(1.5) %
Other Membership
(in thousands)
Life and Disability Members
4,469
4,771
4,629
(6.3) %
(3.5) %
Dental Members
6,970
6,743
6,820
3.4 %
2.2 %
Dental Administration Members
1,841
1,697
1,729
8.5 %
6.5 %
Vision Members
10,251
9,904
9,944
3.5 %
3.1 %
Medicare Part D Standalone Members
262
264
260
(0.8) %
0.8 %
Other Metrics (in
millions)
CarelonRx Quarterly Adjusted Scripts
77.0
75.7
78.0
1.7 %
(1.3) %
Carelon Services Consumers Served
102.9
104.0
103.3
(1.1) %
(0.4) %
Elevance Health
Consolidated Statements of
Income
(Unaudited)
(In millions, except per share data)
Three Months Ended
March 31
2024
2023
Change
Revenues
Premiums
$
35,696
$
35,868
(0.5
)%
Product revenue
4,499
4,022
11.9
%
Service fees
2,078
2,008
3.5
%
Total operating revenue
42,273
41,898
0.9
%
Net investment income
465
387
20.2
%
Net losses on financial instruments
(161
)
(113
)
NM
Total revenues
42,577
42,172
1.0
%
Expenses
Benefit expense
30,546
30,786
(0.8
)%
Cost of products sold
3,825
3,481
9.9
%
Operating expense
4,886
4,800
1.8
%
Interest expense
265
251
5.6
%
Amortization of other intangible
assets
116
235
(50.6
)%
Total expenses
39,638
39,553
0.2
%
Income before income tax expense
2,939
2,619
12.2
%
Income tax expense
690
615
12.2
%
Net income
2,249
2,004
12.2
%
Net income attributable to
noncontrolling interests
(3
)
(15
)
NM
Shareholders' net income
$
2,246
$
1,989
12.9
%
Shareholders' earnings per diluted
share
$
9.59
$
8.30
15.5
%
Diluted shares
234.2
239.7
(2.3
)%
Benefit expense as a percentage of
premiums
85.6
%
85.8
%
(20) bp
Operating expense as a percentage of total
operating revenue
11.6
%
11.5
%
10 bp
Income before income tax expense as a
percentage of total revenue
6.9
%
6.2
%
70 bp
"NM" = calculation not meaningful
Elevance Health
Condensed Consolidated Balance
Sheet
(In millions)
March 31, 2024
December 31,
2023
Assets
(Unaudited)
Current assets:
Cash and cash equivalents
$
6,226
$
6,526
Fixed maturity and equity securities
30,041
29,843
Premium and other receivables
18,293
17,865
Other current assets
6,388
5,795
Total current assets
60,948
60,029
Long-term investments
7,593
6,983
Property and equipment, net
4,451
4,359
Goodwill and other intangible assets
36,657
35,590
Other noncurrent assets
2,245
1,967
Total assets
$
111,894
$
108,928
Liabilities and equity
Liabilities
Current liabilities:
Medical claims payable
$
16,459
$
16,111
Short-term borrowings
1,575
225
Current portion of long-term debt
2,900
1,649
Other current liabilities
23,400
23,806
Total current liabilities
44,334
41,791
Long-term debt, less current portion
21,976
23,246
Other noncurrent liabilities
4,874
4,486
Total liabilities
71,184
69,523
Total shareholders’ equity
40,608
39,306
Noncontrolling interests
102
99
Total equity
40,710
39,405
Total liabilities and equity
$
111,894
$
108,928
Elevance Health
Condensed Consolidated
Statement of Cash Flows
(Unaudited)
(In millions)
Three Months Ended March 31
2024
2023
Operating activities
Net income
$
2,249
$
2,004
Depreciation and amortization
331
462
Share-based compensation
62
61
Changes in operating assets and
liabilities
(988
)
4,054
Other non-cash items
324
(112
)
Net cash provided by operating
activities
1,978
6,469
Investing activities
Purchases of investments, net of sales and
maturities
(670
)
(1,421
)
Purchases of subsidiaries, net of cash
acquired
(1,120
)
(1,638
)
Purchases of property and equipment
(279
)
(301
)
Other, net
(241
)
176
Net cash used in investing
activities
(2,310
)
(3,184
)
Financing activities
Net change in short-term and long-term
borrowings
1,350
991
Repurchase and retirement of common
stock
(566
)
(622
)
Cash dividends
(379
)
(351
)
Other, net
(373
)
(549
)
Net cash provided by (used in)
financing activities
32
(531
)
Effect of foreign exchange rates on cash
and cash equivalents
—
1
Change in cash and cash
equivalents
(300
)
2,755
Cash and cash equivalents at beginning
of period
6,526
7,387
Cash and cash equivalents at end of
period
$
6,226
$
10,142
REPORTABLE SEGMENTS
Elevance Health has four reportable segments: Health Benefits
(comprised of Individual, Employer Group risk-based, Employer Group
fee-based, BlueCard, Medicare, Medicaid, and Federal Health
Products & Services businesses); CarelonRx; Carelon Services;
and Corporate & Other (comprised of businesses that do not
individually meet the quantitative thresholds for an operating
division as well as corporate expenses not allocated to our other
reportable segments).
Elevance Health
Reportable Segment Highlight
Details
(Unaudited)
(In millions)
Three Months Ended March 31
2024
2023
Change
Operating Revenue
Health Benefits
$37,258
$37,280
(0.1) %
Carelon2,4
12,076
11,484
5.2 %
Corporate & Other4
127
91
39.6 %
Eliminations4
(7,188)
(6,957)
3.3 %
Total Operating Revenue1
$42,273
$41,898
0.9 %
Operating Gain (Loss)
Health Benefits4
$2,287
$2,149
6.4 %
Carelon2,4
813
741
9.7 %
Corporate & Other3,4
(84)
(59)
NM5
Total Operating Gain1
$3,016
$2,831
6.5 %
Operating Margin
Health Benefits
6.1 %
5.8 %
30 bp
Carelon
6.7 %
6.5 %
20 bp
Total Operating Margin1
7.1 %
6.8 %
30 bp
1.
See “Basis of Presentation.”
2.
Operating Revenue and Operating Gain for
Carelon for the three months ended March 31, 2024, included $8,067
and $523 for CarelonRx; and $4,009 and $290 for Carelon Services,
respectively. Operating Revenue and Operating Gain for Carelon for
the three months ended March 31, 2023, included $8,024 and $512 for
CarelonRx; and $3,460 and $229 for Carelon Services,
respectively.
3.
Operating Gain for the three months ended
March 31, 2024, and March 31, 2023, included items adjusted out of
adjusted shareholders' net income. See "GAAP Reconciliation.”
4.
Operating Revenue and Operating Gain for
the three months ended March 31, 2023 are restated for the
realignment of Carelon Global Solutions. For the three months ended
March 31, 2023, $148 of Operating Revenue was realigned to Carelon
Services, $160 of Operating Revenue was realigned away from the
Corporate & Other segment, and $12 of Operating Revenue was
realigned to Eliminations. For the three months ended March 31,
2023, $20 of Operating Gain was realigned to Carelon Services, $10
of Operating Gain was realigned away from the Health Benefits
segment, and $10 of Operating Gain was realigned away from
Corporate & Other.
5.
"NM" = calculation not meaningful.
Elevance Health
Reconciliation of Medical
Claims Payable
Three Months Ended March 31
Years Ended December 31
2024
2023
2023
2022
2021
(In millions)
(Unaudited)
(Unaudited)
Gross medical claims payable, beginning of
period
$
15,865
$
15,348
$
15,348
$
13,282
$
11,135
Ceded medical claims payable, beginning of
period
(7
)
(6
)
(6
)
(21
)
(46
)
Net medical claims payable, beginning of
period
15,858
15,342
15,342
13,261
11,089
Business combinations and purchase
adjustments
—
—
—
133
420
Net incurred medical claims:
Current year
30,708
30,751
121,798
113,414
100,440
Prior years redundancies1
(1,205
)
(1,068
)
(1,571
)
(869
)
(1,703
)
Total net incurred medical claims
29,503
29,683
120,227
112,545
98,737
Net payments attributable to:
Current year medical claims
19,580
19,948
107,146
98,997
88,156
Prior years medical claims
9,606
9,593
12,565
11,600
8,829
Total net payments
29,186
29,541
119,711
110,597
96,985
Net medical claims payable, end of
period
16,175
15,484
15,858
15,342
13,261
Ceded medical claims payable, end of
period
8
7
7
6
21
Gross medical claims payable, end of
period2
$
16,183
$
15,491
$
15,865
$
15,348
$
13,282
Current year medical claims paid as a
percentage of current year net incurred medical claims
63.8
%
64.9
%
88.0
%
87.3
%
87.8
%
Prior year redundancies in the current
year as a percentage of prior year net medical claims payable less
prior year redundancies in the current year
8.2
%
7.5
%
11.4
%
7.0
%
18.1
%
Prior year redundancies in the current
year as a percentage of prior year net incurred medical claims
1.0
%
0.9
%
1.4
%
0.9
%
2.0
%
1.
Negative amounts reported for net incurred
medical claims related to prior years result from claims being
settled for amounts less than originally estimated.
2.
Excludes insurance lines other than short
duration
Elevance Health GAAP
Reconciliation (Unaudited)
This document references non-GAAP measures, including “Adjusted
Shareholders’ Net Income,” “Adjusted Shareholders’ Net Income Per
Share,” “Adjusted EPS,” “Adjusted Operating Gain,” “Adjusted
Operating Expense” and “Adjusted Operating Expense Ratio,” which
are non-GAAP measures. These non-GAAP measures are intended to aid
investors when comparing Elevance Health’s financial results among
periods and are not intended to be alternatives to any measure
calculated in accordance with GAAP. Reconciliations of these
non-GAAP measures to the most directly comparable measures
calculated in accordance with GAAP are available below. In addition
to these non-GAAP measures, references are made to the measures
“Operating Revenue” and “Operating Gain/Loss,” “Operating Margin”
and “Adjusted EPS”. Operating revenue and operating gain/loss are
the key measures used by management to evaluate performance in each
of its reportable segments, allocate resources, set incentive
compensation targets and to forecast future operating performance.
Operating gain/loss is calculated as total operating revenue less
benefit expense, cost of products sold and operating expense. It
does not include net investment income, net gains/losses on
financial instruments, interest expense, amortization of other
intangible assets and gains/losses on extinguishment of debt or
income taxes, as these items are managed in a corporate shared
service environment and are not the responsibility of operating
segment management. Each of these measures is provided to further
aid investors in understanding and analyzing Elevance Health’s
operating and financial results. A reconciliation of Operating
Revenue to Total Revenue is set forth in the Consolidated
Statements of Income herein. A reconciliation of the non-GAAP
measures to the most directly comparable measures calculated in
accordance with GAAP, together with a reconciliation of reportable
segments operating gain to income before income tax expense, is
provided below. Prior amounts may be grouped differently to conform
to the current presentation. Net adjustment items per share may not
sum due to rounding. A reconciliation of Operating Revenue to Total
Revenue is set forth in the Consolidated Statements of Income
herein.
Three Months Ended March
31
(In millions, except per share data)
2024
2023
Change
Shareholders' net income
$
2,246
$
1,989
12.9
%
Add / (Subtract):
Net losses on financial instruments
161
113
Amortization of other intangible
assets
116
235
Transaction and integration related
costs1
52
26
Litigation expenses1
2
1
Business optimization charges1
(4
)
—
Tax impact of non-GAAP adjustments
(81
)
(97
)
Net adjustment items
246
278
Adjusted shareholders' net
income
$
2,492
$
2,267
9.9
%
Shareholders' earnings per diluted
share
$
9.59
$
8.30
15.5
%
Add / (Subtract):
Net losses on financial instruments
0.69
0.47
Amortization of other intangible
assets
0.50
0.98
Transaction and integration related
costs1
0.22
0.11
Litigation expenses1
0.01
—
Business optimization charges1
(0.02
)
—
Tax impact of non-GAAP adjustments
(0.35
)
(0.40
)
Net adjustment items
1.05
1.16
Adjusted shareholders' earnings per
diluted share
$
10.64
$
9.46
12.5
%
Three Months Ended March
31
(In millions)
2024
2023
Change
Income before income tax
expense
$
2,939
$
2,619
12.2
%
Net investment income
(465
)
(387
)
Net losses on financial instruments
161
113
Interest expense
265
251
Amortization of other intangible
assets
116
235
Reportable segments operating
gain
$
3,016
$
2,831
6.5
%
1.
Adjustment item resides in the Corporate
& Other reportable segment.
Elevance Health
GAAP Reconciliation
(Unaudited)
Three Months Ended March
31
(In millions)
2024
2023
Change
Reportable segments operating
gain
$
3,016
$
2,831
6.5
%
Add / (Subtract):
Transaction and integration related
costs1
52
26
Litigation expenses1
2
1
Business optimization charges1
(4
)
—
Net Adjustment items
50
27
Reportable segments adjusted operating
gain
$
3,066
$
2,858
7.3
%
Three Months Ended March
31
(In millions)
2024
2023
Change
Operating expense
$
4,886
$
4,800
1.8
%
Add / (Subtract):
Transaction and integration related
costs1
(52
)
(26
)
Litigation expenses1
(2
)
(1
)
Business optimization charges1
4
—
Net adjustment items
(50
)
(27
)
Adjusted operating expense
$
4,836
$
4,773
1.3
%
Operating revenue
$
42,273
$
41,898
0.9
%
Operating expense ratio
11.6
%
11.5
%
10 bp
Adjusted operating expense ratio
11.4
%
11.4
%
— bp
Full Year 2024 Outlook
Shareholders' earnings per diluted
share
Greater than $34.05
Add / (Subtract):
Amortization of other intangibles
$1.93
Net losses on financial instruments
$1.35
Transaction and integration related
costs1
$0.75
Litigation expenses1
$0.03
Business optimization charges1
($0.02
)
Tax impact of non-GAAP adjustments
Approximately ($0.89)
Net adjustment items
$3.15
Adjusted shareholders' earnings per
diluted share
Greater Than $37.20
1.
Adjustment item resides in the Corporate
& Other reportable segment.
Forward-Looking Statements
This document contains certain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements reflect our views about future
events and financial performance and are generally not historical
facts. Words such as “expect,” “feel,” “believe,” “will,” “may,”
“should,” “anticipate,” “intend,” “estimate,” “project,”
“forecast,” “plan” and similar expressions are intended to identify
forward-looking statements. These statements include, but are not
limited to: financial projections and estimates and their
underlying assumptions; statements regarding plans, objectives and
expectations with respect to future operations, products and
services; and statements regarding future performance. Such
statements are subject to certain risks and uncertainties, many of
which are difficult to predict and generally beyond our control,
that could cause actual results to differ materially from those
expressed in, or implied or projected by, the forward-looking
statements. You are cautioned not to place undue reliance on these
forward-looking statements that speak only as of the date hereof.
You are also urged to carefully review and consider the various
risks and other disclosures discussed in our reports filed with the
U.S. Securities and Exchange Commission from time to time, which
attempt to advise interested parties of the factors that affect our
business. Except to the extent required by law, we do not update or
revise any forward-looking statements to reflect events or
circumstances occurring after the date hereof. These risks and
uncertainties include, but are not limited to: trends in healthcare
costs and utilization rates; reduced enrollment; our ability to
secure and implement sufficient premium rates; the impact of large
scale medical emergencies, such as public health epidemics and
pandemics, and other catastrophes; the impact of new or changes in
existing federal, state and international laws or regulations,
including laws and regulations impacting healthcare, insurance,
pharmacy services and other diversified products and services, or
their enforcement or application; the impact of cyber-attacks or
other privacy or data security incidents or breaches or our failure
to comply with any privacy, data or security laws or regulations,
including any investigations, claims or litigation related thereto;
information technology disruptions; changes in economic and market
conditions, as well as regulations that may negatively affect our
liquidity and investment portfolios; competitive pressures and our
ability to adapt to changes in the industry and develop and
implement strategic growth opportunities; risks and uncertainties
regarding Medicare and Medicaid programs, including those related
to non-compliance with the complex regulations imposed thereon; our
ability to maintain and achieve improvement in Centers for Medicare
and Medicaid Services Star ratings and other quality scores and
funding risks with respect to revenue received from participation
therein; a negative change in our healthcare product mix; costs and
other liabilities associated with litigation, government
investigations, audits or reviews; our ability to contract with
providers on cost-effective and competitive terms; failure to
effectively maintain and modernize our information systems; risks
associated with providing healthcare, pharmacy and other
diversified products and services, including medical malpractice or
professional liability claims and non-compliance by any party with
the pharmacy services agreement between us and CaremarkPCS Health,
L.L.C.; risks associated with mergers, acquisitions, joint ventures
and strategic alliances; possible impairment of the value of our
intangible assets if future results do not adequately support
goodwill and other intangible assets; possible restrictions in the
payment of dividends from our subsidiaries and increases in
required minimum levels of capital; our ability to repurchase
shares of our common stock and pay dividends on our common stock
due to the adequacy of our cash flow and earnings and other
considerations; the potential negative effect from our substantial
amount of outstanding indebtedness and the risk that increased
interest rates or market volatility could impact our access to or
further increase the cost of financing; a downgrade in our
financial strength ratings; the effects of any negative publicity
related to the health benefits industry in general or us in
particular; events that may negatively affect our licenses with the
Blue Cross and Blue Shield Association; intense competition to
attract and retain employees; risks associated with our
international operations; and various laws and provisions in our
governing documents that may prevent or discourage takeovers and
business combinations.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240417273245/en/
Investor Relations
Stephen Tanal
Investor.Relations@elevancehealth.com
Media Leslie Porras
Leslie.Porras@elevancehealth.com
Elevance Health (NYSE:ELV)
Gráfica de Acción Histórica
De Dic 2024 a Ene 2025
Elevance Health (NYSE:ELV)
Gráfica de Acción Histórica
De Ene 2024 a Ene 2025
