HighGravityDataElevance Health — Jan 23, 2025 release
Fiscal 2024 fourth-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001156039-25-000007
Showing in the filing
Shareholders' earnings per diluted share
“$30.40 to $31.10”
Period
FY2025
Measure
GAAP-tied
Source
Guidance table
All guidance in this release · 31
Dividend for Q1 FY2025
“$1.71 per share”
Projected FY 2025 GAAP diluted EPS for FY2025
“$30.40 to $31.10”
Shareholders' earnings per diluted share for FY2025
“$30.40 to $31.10”
Adjusted shareholders' earnings per diluted … for FY2025
“$34.15 to $34.85”
Projected FY 2025 adjusted diluted EPS for FY2025
“$34.15 to $34.85”
Premium Revenue for FY2025
“Low double digit growth”
Product Revenue for FY2025
“Low single digit growth”
Service Fees for FY2025
“Approximately flat”
Total Operating Revenue for FY2025
“High single to low double digit growth”
Benefit Expense Ratio for FY2025
“89.1% +/- 50 bps”
Adjusted Operating Expense Ratio for FY2025
“10.4% +/- 50 bps”
Adjusted Operating Gain for FY2025
“$9.55 - $9.85 billion”
Net Investment income for FY2025
“$1,875 million”
Interest Expense for FY2025
“($1,475) million”
Amortization of Intangible Assets for FY2025
“($580) million”
Adjusted Effective Tax Rate for FY2025
“22.0% - 24.0%”
Diluted Shares for FY2025
“225 - 226 million”
Operating Cash Flow for FY2025
“Approximately $8.0 billion”
Operating Revenue Growth Rate: Health Benefits for FY2025
“High single digit growth”
Operating Revenue Growth Rate: Carelon Servi… for FY2025
“Greater than 50% growth”
GAAP Operating Margin vs. 2024: Health Benef… for FY2025
“(50) - (25) bps”
GAAP Operating Margin vs. 2024: CarelonRx for FY2025
“0 - 20 bps”
GAAP Operating Margin vs. 2024: Carelon Serv… for FY2025
“(100) - (50) bps”
Year-End Medical Enrollment: Commercial Fee-… for FY2025
“27,300 - 27,600”
Year-End Medical Enrollment: Commercial Risk… for FY2025
“5,150 - 5,350”
Year-End Medical Enrollment: Medicaid for FY2025
“8,600 - 8,900”
Year-End Medical Enrollment: Medicare Advant… for FY2025
“2,200 - 2,250”
Year-End Medical Enrollment: Medicare Supple… for FY2025
“Approximately 850”
Year-End Medical Enrollment: Federal Employe… for FY2025
“Approximately 1,650”
Year-End Medical Enrollment: Risk-Based for FY2025
“18,450 - 19,000”
Year-End Medical Enrollment: Total for FY2025
“45,750 - 46,600”
Exhibit 99.1 · the passage around this item
… earlier in the release
13 Elevance Health GAAP Reconciliation (Unaudited) Three Months Ended December 31 Twelve Months Ended December 31 (In millions) 2024 2023 Change 2024 2023 Change Reportable segments operating gain $ 673 $ 1,284 (47.6) % $ 7,862 $ 8,499 (7.5) % Add / (Subtract): Business dispositions and related items 1 281 — 281 — Transaction and integration related costs 2 66 59 224 213 Litigation and settlement expenses 2 12 (7) 692 (2) Business optimization charges 2 — 22 268 719 Net adjustment items 359 74 1,465 930 Reportable segments adjusted operating gain $ 1,032 $ 1,358 (24.0) % $ 9,327 $ 9,429 (1.1) % Three Months Ended December 31 Twelve Months Ended December 31 (In millions) 2024 2023 Change 2024 2023 Change Operating expense $ 4,804 $ 4,999 (3.9) % $ 20,025 $ 20,087 (0.3) % Add / (Subtract): Business dispositions and related items 1 (281) — (281) — Transaction and integration related costs 2 (66) (59) (224) (213) Litigation and settlement expenses 2 (12) 7 (692) 2 Business optimization charges 2 — (22) (268) (719) Net adjustment items (359) (74) (1,465) (930) Adjusted operating expense $ 4,445 $ 4,925 (9.7) % $ 18,560 $ 19,157 (3.1) % Operating revenue $ 44,989 $ 42,454 6.0 % $ 175,204 $ 170,209 2.9 % Operating expense ratio 10.7 % 11.8 % (110) bp 11.4 % 11.8 % (40) bp Adjusted operating expense ratio 9.9 % 11.6 % (170) bp 10.6 % 11.3 % (70) bp Full Year 2025 Outlook Shareholders' earnings per diluted share $30.40 to $31.10 Add / (Subtract): Amortization of other intangibles 3 $2.57 Net losses on financial instruments 3 $1.12 Transaction and integration related costs 2,3 $1.11 Litigation and settlement expenses 2,3 $0.04 Tax impact of non-GAAP adjustments 3 Approximately ($1.09) Net adjustment items $3.75 Adjusted shareholders' earnings per diluted share $34.15 to $34.85 1. Adjustment item resides in the Health Benefits and Carelon Services reportable segments. 2. Adjustment item resides in the Corporate & Other reportable segment. 3. Adjustment item represents the midpoint of a projected range and serves as the estimated full year adjustment amount. 14 Elevance Health Financial Guidance Summary (Unaudited) Full Year 2024 Actual Full Year 2025 Outlook Premium Revenue $144.2 billion Low double digit growth Product Revenue $22.6 billion Low single digit growth Service Fees $8.4 billion Approximately flat Total Operating Revenue $175.2 billion High single to low double digit growth Benefit Expense Ratio 88.5% 89.1% +/- 50 bps Adjusted Operating Expense Ratio 10.6% 10.4% +/- 50 bps Adjusted Operating Gain $9.3 billion $9.55 - $9.85 billion Other Pre-Tax Items: Net Investment income $2,051 million $1
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.