Evolent Health reports Q4 adjusted EPS 23c, consensus 15c

Reports Q4 revenue $556.06M, consensus $542.39M. Seth Blackley, Chief Executive Officer, and Co-Founder of Evolent stated, “We ended 2023 on a strong note, achieving all of our financial objectives for the year. Annual revenue increased over 45% while we continued to deliver strong earnings, driven by continued underlying growth as well as the successful integration of NIA. I am incredibly proud of our global team who worked so hard to collectively deliver what we promised to both shareholders and partners in 2023. Our financial position is strong as cash flow exceeded our target for the year and we significantly improved our cash and balance sheet flexibility.” Blackley continued, “We are off to a strong start for growth in 2024, with four new revenue agreements that illustrate the success of our strategy to become a leader for value-based specialty care for complex conditions. Our initial financial outlook for 2024 includes revenue growth of 25% at the midpoint, exceeds our multi-year revenue and profit growth targets and we believe is also consistent with achieving Evolent’s annual run-rate profit target exiting 2024. We continue to believe the current challenges facing the healthcare system represent future opportunities for Evolent, given our low penetration and proven value proposition in a rapidly growing market.”