Elevance Health Q2 profit exceeded expectations at $2.3bn, driven by commercial insurance sales and healthcare service growth.
Elevance Health exceeded Q2 profit expectations, reaching $2.3bn, driven by commercial health insurance sales & healthcare service growth under Carelon. Despite a 5% membership drop to 45.8 million, the company's strategy of focusing on commercial & Medicaid plans kept costs under control, resulting in a 24% increase in net income & an 86.3% MLR. Adjusted profits were $10.12/share, surpassing estimates.
July 17, 2024
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