ELV Elevance Health (ELV) Q2 FY25 earnings call
Elevance Health revised its full-year 2025 adjusted EPS guidance to approximately $30, acknowledging persistent elevated medical cost trends in its ACA and Medicaid businesses. The company is taking decisive actions to stabilize trends, align pricing, and strengthen its operational foundation for long-term sustainability, focusing on areas within its control. Despite the challenges, the Carelon platform continues to drive significant growth, and management remains committed to transparency and execution.
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ELV operating KPIs by quarter
| KPI | Mar 2025 Q1 FY25 | This call Jun 2025 Q2 FY25 | Sep 2025 Q3 FY25 | Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Sep 2026 Q3 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|---|---|---|
| Medical members | 45.8MWe ended the first quarter with 45.8 million medical members, up 99,000 from year-end, driven primarily by targeted expansion and better-than-expected retention rates in Medicare Advantage.Source: earnings call transcript | 45.6MWe ended the second quarter with 45.6 million medical members, down approximately 200,000 sequentially, driven by a reduction in Medicaid membership and lower effectuation rates in our ACA business, a dynamic we first highlighted on last quarter's earnings call.Source: earnings call transcript | 45.4MWe ended the quarter with 45.4 million medical members.Source: earnings call transcript | 45.2MWe ended the year with 45.2 million members, a decrease of approximately 500,000 year-over-year, principally reflecting a decline in Medicaid membership due to continued eligibility reverifications.Source: earnings call transcript | 45.4MWe ended March with 45.4 million members, an increase of nearly 200,000 from year-end, driven by growth in our commercial fee-based membership and higher enrollment in Individual ACA.Source: earnings call transcript | 44.9MWe ended the quarter with 44.9 million medical members.Source: earnings call transcript | ~44.9MWe ended the quarter with approximately 44.9 million medical members.Source: earnings call transcript | — |
| Medical care ratio | 86.4%Our consolidated benefit expense ratio was 86.4%, an increase of 80 basis points year-over-year.Source: earnings call transcript | 88.9%The consolidated benefit expense ratio was 88.9%, an increase of 260 basis points year-over-year, driven by our ACA and Medicaid businesses, partially offset by a favorable out-of-period settlement with a value-based care provider.Source: earnings call transcript | 91.3%The consolidated benefit expense ratio was 91.3%, aligned with our expectations.Source: earnings call transcript | 93.5%Our consolidated benefit expense ratio was 93.5% for the quarter and 90% for the full year, in line with our guidance.Source: earnings call transcript | 86.8%Our consolidated benefit expense ratio was 86.8%.Source: earnings call transcript | — | 90.6%Our consolidated benefit expense ratio was 90.6%, an improvement of 70 basis points.Source: earnings call transcript | — |
| Days in claims payable | — | — | — | 41.3Days in claims payable was 41.3 days, a decrease of 0.1 days sequentially.Source: earnings call transcript | 46.6Days in claims payable were 46.6 days, an increase of 5.3 days sequentially.Source: earnings call transcript | 45.4Days in claims payable were 45.4 days as of June 30, an increase of 2.9 days year-over-year.Source: earnings call transcript | 44.9Days in Claims Payable were 44.9 days as of September 30, an increase of 3.5 days year-over-year.Source: earnings call transcript | -1.1% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.