Elevance Health (NYSE:ELV) on Thursday issued its preliminary financial results for Q1 2025, projecting $9.61 of GAAP net income and $11.97 of non-GAAP net income on a diluted per share basis, exceeding $11.38 projected by analysts.
In a regulatory filing ahead of its Q1 earnings release next week, the managed care firm said despite rising costs in its Medicare Advantage business, the company’s medical costs in Q1 were in line with its prior projections.
“While cost trends in Medicare Advantage remain elevated, the company’s first quarter experience was consistent with its expectations and pricing,” Indiana-based ELV noted reaffirming its full-year earnings outlook of $34.15 - $34.85 per diluted share on a non-GAAP basis.
Additionally, Elevance (NYSE:ELV) continues to expect its full-year Medicare Advantage membership to reach 2,200 to 2,250 thousand members in 2025.
Despite the upbeat forecast, the company shares remain under pressure after the industry bellwether for the earnings season, UnitedHealth (UNH), announced a guidance cut and posted a rare earnings miss with its Q1 2025 results.
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