Elevance Health, Inc. Annual Report, Year Ended Dec 31, 2024

Elevance Health, Inc. (ELV) reported a stable financial performance for the year ended December 31, 2024, with total operating revenue increasing by 2.9% to $175.2 billion. This growth was primarily driven by premium rate increases across its health plans, expansion in its CarelonRx segment, and contributions from recent acquisitions. Net income remained relatively flat year-over-year at $5.97 billion, reflecting a slight decrease of 0.3%. Diluted Earnings Per Share (EPS) saw a modest increase of 1.8% to $25.68, attributed to a reduction in diluted shares outstanding due to share repurchases. The company experienced a notable decline in Medicaid membership (down 15.1%), largely due to eligibility redeterminations and market exits, which impacted benefit expenses. However, this was partially offset by growth in Employer Group fee-based, Individual, and FEP businesses. Strategic initiatives are ongoing, including the integration of acquired businesses like Paragon Healthcare and CareBridge, and the divestiture of life and disability businesses. Management is focused on optimizing operations and managing healthcare costs through value-based care models and medical management programs. The company maintains a strong liquidity position and ended the year with $35.7 billion in cash, cash equivalents, and investments. Key risks identified include managing healthcare costs, regulatory changes, and cybersecurity threats.