Elevance Health's Quarterly Earnings Preview: What You Need to Know

With a market cap of $85.2 billion, Elevance Health, Inc. (ELV) is a health benefits company, offering a wide range of medical, pharmacy, and healthcare services across its four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It provides health plans, specialty insurance, pharmacy solutions, and healthcare management services under brands such as Anthem Blue Cross and Blue Shield, Wellpoint, and Carelon.

The Indianapolis, Indiana-based company is expected to release its fiscal Q3 2026 results soon. Ahead of this event, analysts expect ELV to report an djusted EPS of $4.72, down 21.7% from $6.03 in the prior year's quarter. However, it has surpassed Wall Street's bottom-line estimates in each of the past four quarters.

For fiscal 2026, analysts forecast Elevance Health to post adjusted EPS of $27.19, a 10.2% decrease from $30.29 in fiscal 2025. Looking ahead, adjusted EPS is projected to grow nearly 8% year-over-year to $29.36 in fiscal 2027.

Shares of Elevance Health have increased 20.4% over the past 52 weeks, outpacing the S&P 500 Index's ($SPX) 15.1% gain. However, the stock has lagged behind the State Street Health Care Select Sector SPDR ETF's (XLV) 22.2% surge over the same period. 

Elevance Health reported Q2 2026 results on Jul. 15, with operating revenue of $49.8 billion and adjusted EPS of $7.45. The company raised its fiscal 2026 adjusted EPS guidance to at least $27 and increased operating cash flow guidance to at least $6 billion. The outlook was further supported by Carelon revenue growth of 6% to $19.2 billion and management’s confidence in returning to at least 12% adjusted EPS growth in 2027.

Analysts' consensus rating on ELV stock is cautiously optimistic, with a "Moderate Buy" rating overall. Out of 22 analysts covering the stock, opinions include 14 "Strong Buys” and eight "Holds.” The average analyst price target for ELV is $449.57, suggesting a potential upside of 15.9% from current levels. 

On the date of publication, Sohini Mondal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.