Subscribe to Updates

    Get the latest news from Legacy Medi4!

    Our Picks

    Apple, Google profits squeezed on China, sluggish economies | Business and Economy News

    February 2, 2023

    Best sex toys under $50: Score the Satisfyer Pro 2 Air Pulse Stimulator for $39.95

    February 2, 2023

    Gareth Taylor: Chloe Kelly back to her best after ACL injury and reaping rewards of Man City competition | Football News

    February 2, 2023

    Kylie Jenner Shares Video With Son Celebrating His 1st Birthday

    February 2, 2023
    Facebook Twitter Instagram
    • Privacy Policy
    • Contact Us
    • About Us
    • Disclaimer
    Facebook Twitter Instagram YouTube
    Legacy Medi4Legacy Medi4
    • World News
    • Business
    • Entertainment
    • Health
    • Science
    • Sports
    • Technology
    Legacy Medi4Legacy Medi4
    Home»Business»ELV stock falls as 2023 earnings outlook misses forecast (NYSE:ELV)
    Business

    ELV stock falls as 2023 earnings outlook misses forecast (NYSE:ELV)

    Todd LivingstonBy Todd LivingstonJanuary 25, 2023No Comments2 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Quarterly Results

    No

    Elevance Health (NYSE: ELV) was close to a market selloff on Wednesday after the company reported lower-than-expected revenue in 2023 and membership growth of ~1%, while Medicaid and Medicare Advantage drove its 2022 performance.

    In 2022, Elevance (ELV) added 2.2M members taking total hospital membership to ~47.5M and ~5% YoY growth as the Medicaid business and organic growth in Medicare Advantage boosted the state business.

    The company’s Q4 2022 membership grew by 248K, driven by organic growth in Medicaid primarily due to the suspension of re-admissions and the acquisition of Vivida Health which brought 29K members to Elevance (ELV).

    For 2023, the company expects its medical registration to reach 47.4K – 48.5K, which means ~1% YoY growth in the middle.

    However, the health insurer beat street forecasts with its Q4 2022 earnings as operating income rose ~10% YoY to $39.7B, and the public sector business met Wall Street estimates, adding revenue of $24.6B and ~13% YoY growth. .

    Full-year revenue rose ~14% YoY to $155.7B while core revenue grew ~14% YoY to $133.2B, although quarterly revenue missed estimates at $33.6B with ~9% YoY growth.

    For 2023, Elevance ( ELV ) expects initial revenue to reach $140B, based on operating income of up to $164B, according to the agreement.

    Meanwhile, the company’s private equity business added ~$10.4B short of Wall Street’s forecasts. At the same time, pharmacy operator CarelonRx, formerly known as IngenioRx, is estimated to bring in $7.5B in revenue and ~11% YoY growth.

    Gross margin for the quarter and full year decreased by 10bps to 89.4% and 87.4%, respectively, driven by other adjustments to reflect current demand. Elevance ( ELV ) posted a ~12% SG&A margin in the quarter, reflecting a 20bps decline as adjusted earnings per share rose ~2% YoY to $5.23 to beat estimates.

    Read: Seeking Alpha shareholder Samuel Petersson has issued a Buy rating on Elevance (ELV), citing the company’s financial performance, balance sheet, earnings, and share price.

    Source link

    Share. Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Tumblr Email
    Todd Livingston

    Related Posts

    Amazon moves lower on mixed earnings result, slowing growth (NASDAQ:AMZN)

    February 2, 2023

    FirstEnergy to sell additional 30% stake in FET business to Brookfield for $3.5B (NYSE:FE)

    February 2, 2023

    Adtech platform developer NYIAX narrows price range for proposed $8M IPO

    February 2, 2023

    Leave A Reply Cancel Reply

    Our Picks

    Apple, Google profits squeezed on China, sluggish economies | Business and Economy News

    February 2, 2023

    Best sex toys under $50: Score the Satisfyer Pro 2 Air Pulse Stimulator for $39.95

    February 2, 2023

    Gareth Taylor: Chloe Kelly back to her best after ACL injury and reaping rewards of Man City competition | Football News

    February 2, 2023

    Kylie Jenner Shares Video With Son Celebrating His 1st Birthday

    February 2, 2023

    Subscribe to Updates

    Get the latest news from Legacy Medi4!

    Our Picks

    Apple, Google profits squeezed on China, sluggish economies | Business and Economy News

    February 2, 2023

    Best sex toys under $50: Score the Satisfyer Pro 2 Air Pulse Stimulator for $39.95

    February 2, 2023

    Gareth Taylor: Chloe Kelly back to her best after ACL injury and reaping rewards of Man City competition | Football News

    February 2, 2023

    Type above and press Enter to search. Press Esc to cancel.