Elevance Health Reports Strong Financial Performance

By Bobby Samwell • Thursday, January 23 10:30 • Permanent Link

Elevance Health, Inc. has reported its fourth quarter and full-year 2024 results, showcasing a strong performance. The company's operating revenue for the fourth quarter of 2024 was $45.0 billion, reflecting a 6% increase compared to the same period in the previous year. For the full year 2024, operating revenue reached $175.2 billion, marking a 3% increase from the previous year.

The company's diluted earnings per share (EPS) for the fourth quarter of 2024 were $1.81, with adjusted diluted EPS at $3.84. For the full year 2024, diluted EPS stood at $25.68, while adjusted diluted EPS was reported at $33.04. Looking ahead, Elevance Health projects that its GAAP diluted EPS for the full year 2025 will be in the range of $30.40 to $31.10, with adjusted diluted EPS expected to be in the range of $34.15 to $34.85.

Elevance Health's quarterly dividend has been increased by 5% to $1.71 per share. The company's president and CEO, Gail K. Boudreaux, expressed the commitment to simplifying the healthcare experience and deploying innovative care models to achieve sustainable growth in the long run.

In terms of the health benefits segment, operating revenue for the fourth quarter of 2024 was $37.6 billion, up 3% from the same period in 2023. For the full year 2024, operating revenue in this segment reached $150.3 billion, representing a 1% increase from the previous year. The operating gain for the health benefits segment was $0.2 billion in the fourth quarter and $6.2 billion for the full year.

The carelon segment also demonstrated strong performance, with operating revenue of $14.7 billion in the fourth quarter of 2024, marking a 19% increase from the previous year. For the full year 2024, operating revenue in the carelon segment reached $53.9 billion, reflecting a 12% increase from the previous year. The operating gain for carelon was $0.6 billion in the fourth quarter and $2.9 billion for the full year.

Elevance Health's disciplined cost management and enhanced efficiency were evident in the improvement of adjusted operating expense ratios over prior year periods. The company's operating cash flow for 2024 was $5.8 billion, approximately 1.0 times GAAP net income, and it had approximately $9.3 billion of board-approved share repurchase authorization remaining as of December 31, 2024.

Today the company's shares have moved 1.5% to a price of $396.64. For more information, read the company's full 8-K submission here.

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