In this photo, Elevance President and CEO Health Gail Boudreaux testifies at a House Committee on Energy and Commerce Subcommittee on Health hearing on lowering health care costs at the Capitol, Thursday, Jan. 22, 2026, in Washington. (AP Photo/Allison Robbert)
Elevance Health reported second quarter net income of $1.45 billion as medical costs fell in some health plans, triggering an improved outlook for the rest of the year.
The health insurer raised its full year earnings outlook to “at least $20.10” per share compared to an earlier forecast of “at least $19.85” per share. The decision to issue a new outlook reflected "strong second quarter operating results,” the company said Wednesday in its report.
Elevance, which is the nation’s second-largest health insurer behind UnitedHealth Group’s UnitedHealthcare, is best known for its operation of Anthem brand Blue Cross and Blue Shield plans in 14 states. In addition, Elevance manages Medicaid via contracts with multiple states and also sells individual coverage under the Affordable Care Act, also known as Obamacare. The company also has a growing Carelon healthcare services business.
Elevance reported a net income of $1.46 billion, or $6.71 per share, which was down 16.6% compared to $1.74 billion, or $7.72 per share. The company said the results “results were supported by favorable benefit expense performance and an approximately $0.80 per share net below-the-line benefit.”
