Elevance Health lifts 2026 adjusted EPS guidance to at least $27.00 after a strong Q2 beat
ELV sits 56% above its 52-week low of $273.71.
Summary
Elevance Health posted Q2 2026 adjusted EPS of $7.45, beating estimates, and raised its full-year adjusted EPS guidance to at least $27.00. The company also lifted its operating cash flow outlook to at least $6.0 billion.
Key Events · Earnings and Guidance · ELV
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Q2 Adjusted EPS Beats at $7.45
Adjusted diluted EPS came in at $7.45, exceeding expectations, thanks to favorable benefit expense performance and a net below-the-line benefit of approximately $0.80 per share.
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Full-Year Adjusted EPS Guidance Raised to at Least $27.00
Reflecting strong second-quarter operating results, management raised its 2026 adjusted diluted EPS guidance to at least $27.00, up from a prior view that had already been lifted in April.
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Operating Cash Flow Guidance Raised to at Least $6.0 Billion
Full-year 2026 operating cash flow guidance was raised to at least $6.0 billion, up from prior expectations, driven by underlying business strength and the timing of a state Medicaid pass-through payment.
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Share Repurchases and Dividend
During Q2 2026, the company repurchased 0.7 million shares for $234 million at a weighted average price of $344.62, and declared a quarterly dividend of $1.72 per share.
Analysis · ELV · Finance
A standout Q2 adjusted EPS of $7.45, well ahead of expectations, prompted Elevance Health to raise its full-year 2026 adjusted EPS guidance to at least $27.00 — up from a prior view that had already been lifted in April. The outperformance was fueled by favorable benefit expense trends and a net below-the-line benefit of approximately $0.80 per share. Operating revenue edged up to $49.8 billion, though operating margin narrowed year-over-year as targeted investments and elevated medical costs in Government businesses weighed. In a further show of confidence, the company raised its operating cash flow guidance to at least $6.0 billion, underscoring robust underlying cash generation. This marks the second guidance increase this year and bolsters management's path toward returning to at least 12% adjusted EPS growth in 2027.
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At the time of this filing, ELV was trading at $427.00 on NYSE in the Finance sector, with a market capitalization of approximately $92.7B. The 52-week trading range was $273.71 to $436.24. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.