Health insurance provider Elevance Health (NYSE:EVH) will be reporting results this Thursday before the bell. Here’s what to look for.
Elevance Health beat analysts’ revenue expectations by 5.3% last quarter, reporting revenues of $48.89 billion, up 14.8% year on year. It was a strong quarter for the company, with a narrow beat of analysts’ full-year EPS guidance estimates and a decent beat of analysts’ EPS estimates. It added 99,000 customers to reach a total of 45.83 million.
Is Elevance Health a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Elevance Health’s revenue to grow 10.1% year on year to $48.32 billion, improving from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $8.97 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Elevance Health has missed Wall Street’s revenue estimates twice over the last two years.
With Elevance Health being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for healthcare providers & services stocks. However, investors in the segment have had fairly steady hands going into earnings, with share prices down 1.7% on average over the last month. Elevance Health is down 10.5% during the same time and is heading into earnings with an average analyst price target of $486.39 (compared to the current share price of $336.92).
Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we’ve identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link.
StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.