Elevance Health, Inc. · NYSE:ELV
Elevance Health — Q1 2025 Earnings Presentation
15 slides from Elevance Health's earnings presentation, Apr 22, 2025
Slide 1: Elevance Health 1Q 2025 Earnings Presentation
Elevance Health 1Q 2025 Earnings Presentation April 22, 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 1Q 2025 Results • • • Elevance Health first quarter results were consistent with expectations Operating revenue of $48.8B grew more than 15% Medical loss ratio of 86.4% increased 80 bps • Adjusted diluted EPS1 of $11.97 grew more than 10% • Returned $1.3B to shareholders through div
Slide 4: 1Q 2025 Results
1Q 2025 Results Key Highlights Elevance Health 1Q 2025 1Q 2024 Change (%/bps) • Elevance Health first quarter results were consistent with expectations Operating Revenue1 $48.8B $42.3B 15.4% • Operating revenue of $48.8B grew 15.4%, attributable to higher premium Medical Loss Ratio 86.4% 85.6% 80 bp
Slide 5: Health Benefits 1Q 2025 Results
Health Benefits Key Highlights 1Q 2025 Results • Health Benefits first quarter results reflect strong revenue growth; while early in the year, utilization trends Health Benefits 1Q 2025 1Q 2024 Change (%/bps) were consistent with our expectations • Operating revenue grew 11.2% year Operating Revenue
Slide 6: Health Services 1Q 2025 Results
Health Services Key Highlights 1Q 2025 Results • Robust revenue growth driven by the scaling of innovative risk-based capabilities and integration of Carelon 1Q 2025 1Q 2024 Change (%/bps) acquisitions, reinforcing our strategic focus on advancing our enterprise flywheel for growth Operating Revenue
Slide 7: 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 As an integrated portfolio of whole balanced across commercial, the Core Growth health solutions serving approximately Medicaid and Medicare, leveraging 100M consumer
Slide 8: 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 9: 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 10: 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 11: 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 12: 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 Mar 31 (In millions, except per share data) 2025 2024 Change Shareholders' net income $2,183 $2,246 (2.8)% Add / (Subtract): Net losses on financial instruments 464 161 Amor
Slide 13: 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 Mar 31 (In millions) 2025 2024 Change Reportable segments operating gain $3,170 $3,016 5.1% Add / (Subtract): Transaction and integration related costs1 80 52 Litigation and settlement
Slide 14: 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 15: Elevance Health
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