Elevance Health reports Q2 adjusted EPS $8.84, consensus $9.19

Reports Q2 revenue $49.4B, consensus $48.26B. “In the second quarter, Elevance Health (ELV) made meaningful progress in delivering an experience that is simple and personal to those we serve, while advancing our efforts to enhance efficiency across the healthcare system. We are updating our outlook to reflect elevated medical cost trends in ACA and slower rate alignment in Medicaid. While the external environment continues to evolve, we are focused on the areas within our control – managing healthcare costs, deploying targeted investments in advanced technology and value-based care delivery, and reinforcing the operational foundation that supports long-term value creation. With the embedded earnings power of our diversified Health Benefits and Carelon businesses, we remain confident in achieving at least 12% average annual growth in adjusted diluted EPS over time.”