Elevance Health Q1 EPS falls to $8.00 on $935M CMS charge; raises adjusted guidance
Elevance Health reported first quarter 2026 operating revenue of $49.5 billion, up 1.5% from a year earlier, while GAAP diluted EPS fell to $8.00 from $9.61 after a $935 million accrual related to a CMS notice. Adjusted diluted EPS rose 5.1% to $12.58, and the company raised its full-year 2026 adjusted EPS guidance to at least $26.75, though GAAP diluted EPS guidance is at least $19.85 including the CMS estimate.
Key points
- Operating revenue was $49.5 billion, up 1.5% from the prior year quarter, driven by higher premium yields and CarelonRx product revenue.
- Diluted EPS was $8.00 versus $9.61 a year earlier; adjusted diluted EPS was $12.58 versus $11.97.
- The $935 million accrual reflects the company's current best estimate of potential exposure tied to a CMS notice dated February 27, 2026.
- Full-year 2026 adjusted diluted EPS guidance was raised to at least $26.75; the company returned $1.5 billion to shareholders in the quarter and declared a $1.72 per share dividend payable June 25, 2026.
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 April 22, 2026.
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.