Health insurance provider Elevance Health (NYSE:ELV) will be reporting results this Wednesday before market hours. Here’s what to look for.
Elevance Health beat analysts’ revenue expectations last quarter, reporting revenues of $49.49 billion, up 1.5% year on year. It was an exceptional quarter for the company, with an impressive beat of analysts’ full-year EPS guidance estimates and a beat of analysts’ EPS estimates. It added 186,000 customers to reach a total of 45.42 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, the market is expecting Elevance Health’s revenue to decline 1.7% year on year, a reversal from the 14.3% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Elevance Health rarely misses Wall Street’s revenue estimates.
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 unfold for healthcare providers & services stocks. However, there has been positive investor sentiment in the segment, with share prices up 8.7% on average over the last month. Elevance Health is up 6.4% during the same time .
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