Health insurance provider Elevance Health (NYSE: EVH) will be announcing earnings results this Tuesday before market open. Here’s what you need to know.
Elevance Health beat analysts’ revenue expectations by 3% last quarter, reporting revenues of $49.78 billion, up 13.4% year on year. It was a slower quarter for the company, with a significant miss of analysts’ full-year EPS guidance estimates. It lost 212,000 customers and ended up with a total of 45.62 million.
Is Elevance Health a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Elevance Health’s revenue to grow 10.7% year on year to $49.93 billion, improving from the 5.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $4.94 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Elevance Health has missed Wall Street’s revenue estimates twice over the last two years.
With Elevance Health being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for healthcare providers & services stocks. However, there has been positive investor sentiment in the segment, with share prices up 2.6% on average over the last month. Elevance Health is up 10.1% during the same time and is heading into earnings with an average analyst price target of $376.89 (compared to the current share price of $350).
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