Equity Profile

ELV

Elevance Health, Inc.

Health CareManaged Health Care$85.4B

Apr22Wed

Post-Earnings Recap

ReportedQ1-2026Pre-Market6:00 AM EDT

Elevance Health Inc Beats on EPS, Stock Up 0.03%

Metric	Actual	Expected	Surprise
EPS	$12.58	N/A	+17.75%
Revenue	N/A	N/A	N/A

management commentary, guidance changes, and full analysis available with Pro.

Elevance Health Inc Beats on EPS, Stock Up 0.03%

Key Numbers

Metric	Actual	Expected	Surprise
EPS	$12.58	N/A	+17.75%
Revenue	N/A	N/A	N/A

Management Commentary

Tone: Cautiously Optimistic

Management expressed satisfaction with the EPS results, highlighting their commitment to operational efficiency. They did not provide specific guidance for the upcoming quarters.

We are pleased with our EPS performance this quarter.

Our focus remains on maintaining operational efficiency.

What It Means

Elevance Health's strong EPS performance indicates effective cost management and operational efficiency. The stock's slight increase of 0.03% reflects investor confidence in the company's ability to maintain profitability, despite the lack of revenue data and guidance. Overall, the results suggest a stable outlook for the company in the near term.

Company Snapshot

Elevance Health Inc (ELV) is a major player in the managed health care sector, providing health insurance and related services. With a market cap of $71 billion, the company is significant in shaping health care access and affordability, especially as the industry navigates regulatory changes and rising consumer demand for health services.

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and financial health, which investors closely monitor.

N/A

Membership Growth

Growth in membership can indicate the company's ability to attract and retain customers, which is crucial for revenue stability.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

Original Pre-Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

63%

Avg EPS Surprise

+3.63%

Avg Stock Reaction

-2.37%

Last Quarter Recap

In Q4 2025, Elevance Health reported an EPS of $3.33, exceeding expectations by 7.28%. The stock reacted positively, gaining 5.86% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall, analysts are cautiously optimistic about Elevance Health's upcoming earnings, given their recent performance. However, uncertainty remains due to the lack of specific guidance.

Bull Case

If Elevance can demonstrate strong membership growth and maintain a favorable medical loss ratio, it could signal robust demand and operational efficiency, leading to a positive market reaction.

Bear Case

Conversely, if the company reports disappointing membership numbers or a high medical loss ratio, it could raise concerns about profitability and market competitiveness, leading to a negative reaction.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the growth rate of membership this quarter?

Membership growth is crucial for revenue and indicates the company's competitive position in the market.

What is the current medical loss ratio?

A high medical loss ratio could signal potential profitability issues, which investors will closely watch.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate the impact of recent health care reforms that could drive membership growth higher than expected.

Supporting Evidence

Recent trends in health care spending suggest increased demand for managed care services.

Elevance's recent performance shows a strong ability to adapt to market changes, which may not be fully reflected in current estimates.

Key Risk

If membership growth exceeds 5%, it could challenge current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance will hinge on membership growth and the medical loss ratio, both critical indicators of Elevance's operational health.

Bull Confirmed If

Membership growth of 5% or more compared to the previous quarter would confirm the bull case.

Bear Confirmed If

A medical loss ratio exceeding 85% would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±3.1%

Historical Avg

±5.1%

Pricing cheap

The options market is pricing in a modest move of around 3.1%, suggesting that traders expect limited volatility around the earnings report.

Options are pricing ±3.1% while ELV has averaged ±5.1% over the last 8 prints — setup is pricing cheap.

Detail

30d HV

24.7%

Calls (59K)P/C Ratio: 0.82Puts (48K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Elevance beats expectations, history suggests the stock could rise by an average of 1.17%, confirming strong operational performance.

In-Line / Cautious

If results are in line but management provides cautious commentary, the stock may see muted movement as investors digest the outlook.

Miss

A miss could lead to a decline of around 11.40%, reflecting investor disappointment and concerns over future growth.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

1 buy·0 sells

Members

Senate only

Est. Notional

$15,001.00–$50,000.00

disclosed dollar ranges

Most Active Members

R-OKMarkwayne MullinSen.
1

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Details on membership growth and retention rates.
2Updates on cost management and medical loss ratio.
3Any commentary on regulatory changes affecting the health care sector.
4Insights into competitive positioning against peers.
5Future guidance on revenue expectations.

See the full picture

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Company Snapshot

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and financial health, which investors closely monitor.

N/A

Membership Growth

Growth in membership can indicate the company's ability to attract and retain customers, which is crucial for revenue stability.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

Original Pre-Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

63%

Avg EPS Surprise

+3.63%

Avg Stock Reaction

-2.37%

Last Quarter Recap

In Q4 2025, Elevance Health reported an EPS of $3.33, exceeding expectations by 7.28%. The stock reacted positively, gaining 5.86% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall, analysts are cautiously optimistic about Elevance Health's upcoming earnings, given their recent performance. However, uncertainty remains due to the lack of specific guidance.

Bull Case

If Elevance can demonstrate strong membership growth and maintain a favorable medical loss ratio, it could signal robust demand and operational efficiency, leading to a positive market reaction.

Bear Case

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the growth rate of membership this quarter?

Membership growth is crucial for revenue and indicates the company's competitive position in the market.

What is the current medical loss ratio?

A high medical loss ratio could signal potential profitability issues, which investors will closely watch.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate the impact of recent health care reforms that could drive membership growth higher than expected.

Supporting Evidence

Recent trends in health care spending suggest increased demand for managed care services.

Elevance's recent performance shows a strong ability to adapt to market changes, which may not be fully reflected in current estimates.

Key Risk

If membership growth exceeds 5%, it could challenge current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance will hinge on membership growth and the medical loss ratio, both critical indicators of Elevance's operational health.

Bull Confirmed If

Membership growth of 5% or more compared to the previous quarter would confirm the bull case.

Bear Confirmed If

A medical loss ratio exceeding 85% would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±3.1%

Historical Avg

±5.1%

Pricing cheap

The options market is pricing in a modest move of around 3.1%, suggesting that traders expect limited volatility around the earnings report.

Options are pricing ±3.1% while ELV has averaged ±5.1% over the last 8 prints — setup is pricing cheap.

Detail

30d HV

24.7%

Calls (59K)P/C Ratio: 0.82Puts (48K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Elevance beats expectations, history suggests the stock could rise by an average of 1.17%, confirming strong operational performance.

In-Line / Cautious

If results are in line but management provides cautious commentary, the stock may see muted movement as investors digest the outlook.

Miss

A miss could lead to a decline of around 11.40%, reflecting investor disappointment and concerns over future growth.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

1 buy·0 sells

Members

Senate only

Est. Notional

$15,001.00–$50,000.00

disclosed dollar ranges

Most Active Members

R-OKMarkwayne MullinSen.
1

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Details on membership growth and retention rates.
2Updates on cost management and medical loss ratio.
3Any commentary on regulatory changes affecting the health care sector.
4Insights into competitive positioning against peers.
5Future guidance on revenue expectations.