Elevance Health Reports Upbeat Q1 Earnings, Reaffirms Full-Year Guidance: But Retail’s Unimpressed

Elevance Health, Inc. (ELV), on Tuesday, reported first-quarter earnings that beat Wall Street estimates and also reaffirmed its full-year 2025 guidance.

For the three months through the end of March, the health insurer reported adjusted diluted earnings per share (EPS) of $11.97, up from $10.83 in the corresponding quarter of 2024, and exceeding an analyst estimate of $11.21. The quarterly numbers match the preliminary estimates the company released last week.

Operating revenue for the quarter was $48.8 billion, representing a 15% increase compared to the prior year's quarter and exceeding an analyst estimate of $46.25 billion. The company pegged the increase in revenues to higher yield in its health benefits segment and growth in its Medicare Advantage membership, among others.

The company further affirmed its full year adjusted diluted earnings per share guidance of $34.15 to $34.85, in line with an analyst estimate of $34.53.

Last week, Elevance released preliminary earnings estimates after UnitedHealth lowered its full-year forecast, which dragged down the shares of companies across the sector.

Elevance then said that medical cost trends developed in line with the company’s expectations, including in its Medicare Advantage business.

While cost trends in Medicare Advantage remain elevated, the company’s first-quarter (Q1) experience was consistent with its expectations and pricing, it added.

On Stocktwits, retail sentiment around Elevance fell further into the ‘extremely bearish’ territory over the past 24 hours while message volume jumped from ‘high’ to ‘extremely high’ levels.

ELV stock is up by over 11% so far this year but down by about 24% over the past 12 months.

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