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Jun 30, 2020
Elevance Health Q2 2020 Earnings Report
Anthem reported second quarter results, reaffirming commitment to stakeholders during the COVID-19 pandemic.
Key Takeaways
Anthem reported a strong second quarter with significant growth in operating revenue and adjusted net income per share, driven by pharmacy product revenue and growth in Medicaid and Medicare. The company also saw a decrease in the benefit expense ratio due to the deferral of healthcare utilization during the COVID-19 pandemic.
Medical enrollment totaled 42.5 million members, an increase of 309 thousand lives compared to March 31, 2020.
Operating revenue was $29.2 billion, an increase of 15.9 percent versus the prior year quarter, driven by pharmacy product revenue related to the launch of IngenioRx.
GAAP net income was $8.91 per share, and adjusted net income was $9.20 per share.
Operating cash flow was $5.5 billion, an increase of $4.1 billion compared to the prior year quarter.
Forward Guidance
GAAP net income is expected to be greater than $20.91 per share, including approximately $1.39 per share of net unfavorable items. Excluding these items, adjusted net income is expected to be greater than $22.30 per share. Due to unprecedented uncertainty around the COVID-19 pandemic and its impact, the Company is not providing other financial guidance metrics for 2020 until visibility improves.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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