Every material Form 8-K Elevance Health filed with the SEC in 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Elevance Health's board elected Amy W. Schulman as an independent director, effective January 12, 2026, with a term expiring at the 2028 annual meeting. She was also appointed to the Audit and Finance Committees, and the board determined she qualifies as an audit committee financial expert. The filing reports no financial results, and the appointment is a board governance change rather than a change to the company's operations.
Amy W. Schulman elected independent director by the Board on December 10, 2025, effective January 12, 2026
Term expires at the Company's 2028 annual meeting of shareholders
Appointed to the Audit and Finance Committees; Board determined she qualifies as an audit committee financial expert
Ms. Schulman's director compensation follows the standard non-employee director program
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.
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.
Elevance Health's board elected Steven H. Collis, Executive Chairman of Cencora, as an independent director effective August 1, 2025, with a term expiring at the 2027 annual meeting. He was also appointed to the Audit and Finance Committees, and the board determined he qualifies as an audit committee financial expert. The filing describes a routine board addition with no financial figures disclosed.
Steven H. Collis elected by the board on July 28, 2025, effective August 1, 2025
Term expires at the Company's 2027 annual meeting of shareholders
Appointed to the Audit and Finance Committees; board determined he is an audit committee financial expert
Previously president and CEO of Cencora for 13 years, and became Executive Chairman in 2024
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.
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
Elevance Health reported first quarter 2025 operating revenue of $48.8 billion, up 15.4% from a year earlier, and adjusted diluted EPS of $11.97, up 10.5%. GAAP diluted EPS was $9.61, roughly flat versus $9.59, and the company reaffirmed its full-year 2025 adjusted diluted EPS outlook of $34.15 to $34.85. Shareholders should note that operating cash flow fell to $1.0 billion, and the benefit expense ratio rose 80 basis points to 86.4 percent.
Operating revenue was $48.8 billion, up 15.4%, driven by higher premium yields, acquisitions and CarelonRx product revenue.
Adjusted diluted EPS was $11.97 versus $10.83; GAAP diluted EPS was $9.61 versus $9.59.
Full-year 2025 adjusted diluted EPS outlook of $34.15 to $34.85 was reaffirmed; GAAP outlook is $28.30 to $29.00.
Operating cash flow was $1.0 billion, down about $1.0 billion year over year; the company returned $1.3 billion to shareholders in the quarter.
Elevance Health said it expects first quarter 2025 GAAP net income of $9.61 per diluted share, including about $2.36 per diluted share of net unfavorable items, and adjusted net income of $11.97 per diluted share. The company reaffirmed full-year 2025 adjusted net income guidance of $34.15 to $34.85 per diluted share, and said Medicare Advantage cost trends were in line with its expectations, though still elevated. Full results are due April 22, 2025.
Q1 2025 GAAP net income expected at $9.61 per diluted share, including about $2.36 per diluted share of net unfavorable items
Q1 2025 adjusted net income expected at $11.97 per diluted share
Full-year 2025 adjusted net income guidance reaffirmed at $34.15 to $34.85 per diluted share
Full-year 2025 Medicare Advantage membership expected at 2,200 to 2,250 thousand members; full results due April 22, 2025
Elevance Health reported fourth quarter 2024 operating revenue of $45.0 billion, up 6% from a year earlier, but diluted EPS fell to $1.81 from $3.63 and adjusted diluted EPS fell to $3.84 from $5.62. The company also projected 2025 adjusted diluted EPS of $34.15 to $34.85 and raised its quarterly dividend 5% to $1.71 per share, which matters to shareholders because it shows the company's near-term earnings outlook and cash returns.
Q4 2024 operating revenue was $45.0 billion, up 6%; benefit expense ratio rose to 92.4% from 89.2%, driven mainly by higher Medicaid medical cost trends.
Full year 2024 diluted EPS was $25.68, up 1.8%; adjusted diluted EPS was $33.04, down 0.3%.
Projected 2025 GAAP diluted EPS is $30.40 to $31.10 and adjusted diluted EPS is $34.15 to $34.85.
The first quarter 2025 dividend is $1.71 per share, payable March 25, 2025, up 5% from $1.63.
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