Elevance Health, Inc. · NYSE:ELV
Elevance Health — Q4 2024 Earnings Presentation
18 slides from Elevance Health's earnings presentation, Jan 23, 2025
Slide 1: Elevance Health 4Q 2024 Earnings Presentation
Elevance Health 4Q 2024 Earnings Presentation January 23, 2025
Slide 2: The Value We Deliver
The Value We Deliver We advance whole health through innovative solutions that integrate physical, behavioral, and social care to achieve our purpose of improving the health of humanity For Consumers For Care Providers Simple, Affordable, and Accessible Health Care Deepen Clinical and Business Partn
Slide 3: Key Highlights
Key Highlights 1 2024 Results • • • Elevance Health fourth quarter results were consistent with guidance 4Q 2024 and full year operating revenue of $45.0 and $175.2 billion, respectively 4Q 2024 and full year medical loss ratio of 92.4% and 88.5%, respectively • 4Q 2024 and full year adjusted dilute
Slide 4: Fourth Quarter & Full Year 2024 Results
Fourth Quarter & Full Year 2024 Results Change Change Key Highlights Elevance Health 4Q 2024 4Q 2023 2024 2023 (%/bps) (%/bps/$) • Elevance Health fourth quarter and full year results were consistent with Operating Revenue1 $45.0B $42.5B 6.0% $175.2B $170.2B 2.9% guidance Medical Loss Ratio 92.4% 89
Slide 5: 2025 Outlook
2025 Outlook Elevance Health 2025 Outlook 2024 Actual Key Highlights • 2025 full year guidance for adjusted Premium Revenue Low Double Digit Growth $144.2B diluted earnings per share in the range of $34.15 – $34.85 Product Revenue Low Single Digit Growth $22.6B • Operating revenue outlook reflects t
Slide 6: Health Benefits 2024 Results | 2025 Outlook
Health Benefits 2024 Results | 2025 Outlook Change Change Key Highlights Health Benefits 4Q 2024 4Q 2023 2024 2023 (%/bps) (%/bps) • Health Benefits results reflect navigation of a dynamic operating Operating Revenue1 $37.6B $36.5B 2.8% $150.3B $148.6B 1.1% environment due to Medicaid cost pressure,
Slide 7: Health Services 2024 Results | 2025 Outlook
Health Services 2024 Results | 2025 Outlook Change Change Key Highlights Carelon 4Q 2024 4Q 2023 2024 2023 (%/bps) (%/bps) • Substantial progress in scaling our enterprise flywheel for growth; in the Operating Revenue1 $14.7B $12.4B 18.9% $53.9B $48.0B 12.4% fourth quarter, we closed on the acquisit
Slide 8: Flywheel Supports Our Long-Term Growth Algorithm
Flywheel Supports Our Long-Term Growth Algorithm Health Benefits Health Services Approximately 46M medical members Optimize Invest in Integrated portfolio of whole health balanced across commercial, the Core Growth solutions connecting care across Medicaid and Medicare, leveraging physical, behavior
Slide 9: Long-Term Growth Algorithm
Long-Term Growth Algorithm Targeting at least 12% average annual growth in Adjusted Diluted EPS Adjusted Operating Gain – High Single Digit to Low Double Digit CAGR1 Revenue Growth High Single Digit CAGR1 + Adjusted Operating Margin Expanding to 6.5% - 7.0% + Capital Deployment Approximately 4% Cont
Slide 10: Committed to Strong Growth Over the Long-Term
Committed to Strong Growth Over the Long-Term Health Benefits Carelon2 Elevance Health Dividends High Single 20% Mid to High Digit CAGR1 Single Digit CAGR1 $175B $150B M&A/ Organic Reinvestment Mid Teens CAGR1 Capital 50% Revenue $54B Allocation (in billions) 2024 Target 2024 Target 2024 Target Shar
Slide 11: The Value We Deliver for Consumers
The Value We Deliver for Consumers Simple, Affordable, and Accessible Health Care Simplifying healthcare through • More than a third of member interactions are facilitated through ‘live-chat’ functions, ensuring 1 enhanced digital capabilities that personalize member experiences • real time solution
Slide 12: The Value We Deliver for Care Providers
The Value We Deliver for Care Providers Deepen Clinical and Business Partnerships • Carelon Oncology Total Cost of Care program helped to resolve adverse events for oncology 1 Differentiated clinical partnerships built on shared expertise and coordinated care • patients in lower cost settings 60% of
Slide 13: Forward-Looking Statements
Forward-Looking Statements This document contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect our views about future events and financial performance and are generally not historical facts. Words su
Slide 14: Non-GAAP Measures and Basis of Presentation
Non-GAAP Measures and Basis of Presentation This document references non-GAAP measures. These non-GAAP measures are intended to aid investors when comparing Elevance Health’s financial results among periods and are not intended to be alternatives to any measure calculated in accordance with GAAP. Re
Slide 15: GAAP Reconciliation — Shareholders’ Net Income and Earnings Per Diluted Share
Elevance Health GAAP Reconciliation — Shareholders’ Net Income and Shareholders’ Earnings Per Diluted Share Three Months Ended Dec 31 Twelve Months Ended Dec 31 (In millions, except per share data) 2024 2023 Change 2024 2023 Change Shareholders' net income $418 $856 (51.2)% $5,980 $5,987 (0.1)% Add
Slide 16: GAAP Reconciliation — Operating Gain, Operating Expense Ratio, and 2025 Outlook
Elevance Health GAAP Reconciliation — Operating Gain, Operating Expense Ratio, and 2025 Outlook Three Months Ended Dec 31 Twelve Months Ended Dec 31 (In millions) 2024 2023 Change 2024 2023 Change Reportable segments operating gain $673 $1,284 (47.6)% $7,862 $8,499 (7.5)% Add / (Subtract): Business
Slide 17: Reportable Segment Highlight Details
Elevance Health Reportable Segment Highlight Details Elevance Health has four reportable segments: Health Benefits (comprised of Individual, Employer Group risk-based, Employer Group fee-based, BlueCard®, Medicare, Medicaid, and Federal Employee Program businesses); CarelonRx; Carelon Services; and
Slide 18: Elevance Health
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