The company said operating revenue for Q4 2023 was $42.5 billion, up 7.0% from 4Q 2022, and full-year operating revenue was $170 billion, up 9.3%. Adjusted diluted EPS for Q4 was $5.62, up 15.2%, and $33.14 for the full year, up 16.2%.

1. 01

   The company said operating revenue for Q4 2023 was $42.5 billion, up 7.0% from 4Q 2022, and full-year operating revenue was $170 billion, up 9.3%. Adjusted diluted EPS for Q4 was $5.62, up 15.2%, and $33.14 for the full year, up 16.2%.

2. 02

   Elevance Health said its full-year benefit expense ratio for 2023 was 87.0%, an improvement of 60 basis points from the prior year. It cited premium rate adjustments to cover medical cost trend as the driver. The full-year operating expense ratio was 11.8%, up 40 basis points, which the company attributed to business optimization charges recorded in 2023.

3. 03

   Elevance Health said operating cash flow for 2023 was $8.1 billion, or 1.3 times GAAP net income. For 2023, it repurchased 5.8 million shares of common stock for $2.7 billion. As of December 31, 2023, the remaining Board-approved share repurchase authorization was approximately $4.2 billion.

4. 04

   The company said it expects full-year 2024 GAAP diluted EPS of greater than $34.29 and adjusted diluted EPS of greater than $37.10. It also announced a 10.1% increase in its quarterly dividend, to $1.63 per share.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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