| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 50.5K | 0.6% | 1.4% |
| Total Income | 50.5K | 0.6% | 1.4% |
| Expenditure | 48.7K | 1.3% | 2.9% |
| PBT | 1.9K | 15.9% | 15.5% |
| Net Profit | 1.5K | 17.1% | 16.1% |
| OPM | 3.49% | 0.66pp | 1.38pp |
| NPM | 2.90% | 0.62pp | 0.60pp |
| EPS | 6.74 | 16.1% | 12.9% |
Elevance Health Reports Q2 2026 Results and Raises Full-Year Guidance
15 Jul 2026 · 15 Jul, 3:41 pm
Summary
Elevance Health reported second quarter 2026 results ahead of expectations, with operating revenue reaching $49.8 billion, a modest increase of 0.8% year-over-year. The company raised its full-year 2026 guidance for both diluted EPS to at least $20.10 and adjusted diluted EPS to at least $27.00, reflecting strong second quarter operating results. Management highlighted disciplined execution and improved operating performance across its diversified portfolio, and is accelerating targeted investments in key capabilities to strengthen future performance and support a return to at least 12% adjusted EPS growth in 2027.
Key Highlights
- 1
Elevance Health reported second quarter 2026 operating revenue of $49.8 billion, an increase of 0.8% from the prior year quarter.
- 2
The company's operating revenue for the second quarter of 2026 was $49.8 billion, driven by higher premium yields and growth in CarelonRx product revenue.
- 3
Second quarter 2026 diluted EPS was $6.71 and adjusted diluted EPS was $7.45.
- 4
Full-year 2026 diluted EPS guidance was raised to at least $20.10, and adjusted diluted EPS guidance was raised to at least $27.00.
- 5
Operating cash flow guidance for full-year 2026 was raised to at least $6.0 billion.
- 6
Health Benefits segment operating revenue increased by 2.7% to $42.7 billion in the second quarter of 2026.
- 7
Carelon segment operating revenue increased by 6% to $19.2 billion in the second quarter of 2026.
Management Comments
Gail K. Boudreaux
Our second quarter results exceeded our outlook, supported by disciplined execution and improved operating performance across our diversified portfolio. We are raising our 2026 adjusted EPS guidance to at least $27.00 and accelerating targeted investments in the capabilities that matter most: medical cost management, member experience, provider connectivity, operating efficiency, and Carelon's value-based solutions. These actions will strengthen how we operate, improve consistency over time, and reinforce our confidence in returning to at least 12% adjusted EPS growth in 2027 off our 2026 earnings baseline.
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