Summary
Elevance Health, Inc. (formerly Anthem, Inc.) reported strong financial performance for the year ended December 31, 2021, characterized by significant revenue growth and increased net income. Total operating revenue rose by 13.4% to $136.9 billion, driven by membership growth, particularly in the Government Business segment (Medicaid and Medicare), and contributions from its IngenioRx PBM business. Net income saw a substantial increase of 33.3% to $6.1 billion, resulting in diluted earnings per share (EPS) of $24.73. This growth was supported by strong operating gains across all business units, the absence of certain litigation accrual charges from the prior year, and increased investment income. The company expanded its market participation in the ACA Public Exchange, reflecting confidence in market sustainability. Despite ongoing challenges related to healthcare cost trends and regulatory complexities, Elevance Health demonstrated robust operational execution and strategic growth initiatives, including key acquisitions, positioning it well for future performance.
Financial Highlights
53 data points| Revenue | $138.64B |
| Cost of Revenue | $10.89B |
| Gross Profit | $127.74B |
| SG&A Expenses | $15.92B |
| Operating Income | $7.56B |
| Interest Expense | $798.00M |
| Net Income | $6.16B |
| EPS (Basic) | $25.26 |
| EPS (Diluted) | $24.95 |
| Shares Outstanding (Basic) | 243.80M |
| Shares Outstanding (Diluted) | 246.80M |
Key Highlights
- 1Total operating revenue increased by 13.4% to $136.9 billion for the year ended December 31, 2021.
- 2Net income grew by 33.3% to $6.1 billion, with diluted EPS reaching $24.73.
- 3Total medical membership increased by 5.7% to 45.4 million, primarily driven by growth in Medicaid and Medicare.
- 4The company completed strategic acquisitions, including MMM Holdings, LLC and myNEXUS, Inc., to expand its service offerings and market reach.
- 5Elevance Health expanded its participation in the ACA Public Exchange market, increasing its presence in 122 rating regions for 2022.
- 6Operating cash flow was $8.4 billion, though lower than the prior year's $10.7 billion due to working capital changes.
- 7The company's debt-to-capital ratio remained manageable at 38.9% as of December 31, 2021.