Elevance raises 2026 adjusted EPS guidance to at least $29.00
Elevance Health (ELV) raised its 2026 diluted earnings guidance to at least $22.00 per share and adjusted diluted earnings guidance to at least $29.00 on October 21. It also raised operating cash flow guidance to at least $6.5 billion.[1]
Quarterly results and earnings quality
Third-quarter diluted EPS was $6.27, while adjusted diluted EPS was $6.99. Results included a net non-operating benefit of $1.85 per share, alongside improved operating performance.[1]
Operating revenue was $50.4 billion, up 0.7% from the third quarter of 2025. The benefit expense ratio improved by 70 basis points to 90.6 percent, which the company attributed to better Medicare Advantage and Individual ACA performance.[1]
Why it matters for ELV
Analysis.The higher outlook improves the company’s stated earnings expectations. Shareholders should distinguish underlying operating progress from the non-operating benefit when assessing the quarter. The adjusted EPS target is a separate measure from reported diluted EPS.[1]
Sources
- 1.Elevance October 21 earnings release, SEC exhibitOct 21, 2026
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