Elevance Health Backs Annual Earnings Outlook Better Than View

(RTTNews) - Elevance Health Inc. (ELV), an insurance company, on Tuesday reaffirmed its annual earnings outlook and recorded a rise in its third-quarter result.

For the full year, Elevance Health still expects adjusted income of $30 per share. On average, 22-analysts polled, forecast the company to earn $29.89 per share for the year. Analysts' estimates typically exclude special items.

Elevance Health continues to anticipate annual net income of around $24.70 per share.    

For the third quarter, Elevance Health recorded a rise in net income, helped by improved revenue, driven by higher premium yields in the company's Health Benefits segment, recently closed acquisitions, and growth in Medicare Advantage membership.

For the third quarter, the company recorded a net income of $1.189 billion, higher than $1.016 billion in the same period last year. Revenue was $50.1 billion, up from the previous year's $44.719 billion.