Elevance Health Q3 revenue rises 12% to $50.1 billion; EPS $5.32, guidance reaffirmed
Elevance Health reported third quarter 2025 operating revenue of $50.1 billion, up 12.0% from a year earlier, and GAAP diluted EPS of $5.32, up 22.0%. Adjusted diluted EPS fell to $6.03 from $8.60, and the benefit expense ratio rose 180 basis points to 91.3%, so profit measures moved in different directions. The company reaffirmed its full-year 2025 adjusted diluted EPS guidance of approximately $30.00.
Key points
- Operating revenue was $50.1 billion, up from $44.7 billion in the third quarter of 2024.
- Diluted EPS was $5.32 versus $4.36 a year earlier; adjusted diluted EPS was $6.03 versus $8.60.
- Benefit expense ratio was 91.3%, up 180 basis points, reflecting higher cost trend primarily in Medicare.
- Full-year 2025 adjusted diluted EPS guidance of approximately $30.00 was reaffirmed; $3.3 billion returned to shareholders year to date.
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 October 21, 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.