Elevance Health beats Q2, raises FY26 adjusted EPS guidance to at least $27.00

Filed July 15, 2026 · Period ending July 15, 2026 · ~1 min read

Key Changes

• high

  Raised full-year 2026 adjusted EPS guidance to at least $27.00 (from prior outlook) on strong Q2 operating results; Q2 adjusted EPS of $7.45 benefited from favorable benefit expense and ~$0.80/share net below-the-line gain.

  Exhibit 99.1 view on EDGAR →
• high

  Raised FY26 operating cash flow guidance to at least $6.0 billion; Q2 operating cash flow of $1.9 billion reflects timing of a state Medicaid pass-through payment and underlying business strength.

  Exhibit 99.1 view on EDGAR →
• high

  Recorded $935 million accrual (H1 2026) for potential exposure related to historical Medicare Advantage risk adjustment data per CMS notice dated Feb 27, 2026; excluded from adjusted earnings, adds $4.27/share to GAAP-to-adjusted EPS reconciliation.

  Exhibit 99.1 view on EDGAR →