Elevance Health lowers 2025 adjusted EPS outlook to approximately $30.00 on Q2 profit drop
Elevance Health reported second quarter 2025 operating revenue of $49.4 billion, up 14.3% from a year earlier, but diluted EPS fell to $7.72 from $9.85 and adjusted diluted EPS fell to $8.84 from $10.30. The company revised its full-year 2025 adjusted diluted EPS guidance to approximately $30.00 and projected GAAP diluted EPS of approximately $24.10, citing elevated medical cost trends in ACA and slower rate alignment in Medicaid. Shareholders face lower profit expectations even as sales grew.
Key points
- Q2 2025 operating revenue $49.4 billion, up 14.3%; benefit expense ratio rose to 88.9% from 86.3% in the prior-year quarter
- Q2 2025 diluted EPS $7.72 vs. $9.85 a year earlier; adjusted diluted EPS $8.84 vs. $10.30
- 2025 adjusted diluted EPS outlook revised to approximately $30.00; GAAP diluted EPS outlook approximately $24.10
- Returned $2.0 billion to shareholders year-to-date; third quarter dividend of $1.71 per share payable September 25, 2025
The filing
Written by AI on Nov 8, 2026, 1:21 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 17, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.