Beats Earnings by ~1%, Beats Revenue Expectations by ~1%
Total Revenue: $43.22 Bn, down 0.4% YoY, up 2.1% QoQ
Net Income: $2.3 Bn, up 24% YoY, up 4.5% QoQ
Shares unchanged after results.
Key Takeaways:
Medical membership: ~45.8 MM, down 4.6% YoY, down 0.6% QoQ due to Medicaid attrition
Strategic Movements: Growth in CarelonRx product revenue and premium rate adjustments to cover medical cost trend
CEO Gail K. Boudreaux on Strategy:
“Our focus remains on leveraging our diversified business and executing strategic initiatives to enhance the health of humanity. We are confident in the earnings power of our Health Benefits and Carelon businesses, which underpin our long-term targets.”
