Elevance Beats Q3 Estimates, Affirms FY Guidance

Elevance Health reported third-quarter adjusted EPS of $6.03, beating analysts' $4.93 estimate. Revenue rose 12% to $50.7 million, topping Wall Street's modeled $49.3 million, while the benefit‑expense ratio increased to 91.3% from 89.5%, driven mainly by elevated Medicare costs. Medical membership fell 0.9% to 45.4 million. CEO Gail Boudreaux said results reflect disciplined execution and a focus on affordability, value‑based care partnerships and AI‑enabled digital solutions. The company affirmed its full‑year outlook, targeting about a 90% benefit‑expense ratio and roughly $30 of adjusted earnings per share. Shares rose about 1.5% to $354.07.