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Elevance Health (ELV) guidance and outlook
Elevance Health (ELV) raised its guidance on Oct 21, 2026: EPS $22.00 for FY2026; Operating cash flow $6.5B for FY2026; EPS $22.00 for FY2026. Elevance Health's 10-Q filed Oct 21, 2026 makes 17 forward-looking statements, 2 of them new and 4 no longer said since the filing before.
Guidance and outlook
Latest guidance
| Metric | Period | Range | Change |
|---|---|---|---|
| EPS | FY2026 | $22.00 | raised |
| Operating cash flow | FY2026 | $6.5B | raised |
| EPS | FY2026 | $22.00 | raised |
From the earnings release filed Oct 21, 2026 (8-K on EDGAR).
Forward-looking statements, 10-Q filed Oct 21, 2026
- new · We expect the impact of these initiatives to build over time as implementation progresses and the initiatives mature.
- Pricing Trends: We strive to price our health benefit products consistent with anticipated underlying medical cost trends.
- Going forward, we expect the Public Exchange to be influenced by policy and regulatory changes, particularly around federal subsidies, compliance requirements, and market stability.
- Additional regulatory guidance or rulemakings are possible, and changes resulting from any such guidance or rulemakings, as well as current and potential litigation, arbitration proceedings, and government audits related to the IDR and No Surprises Act, have had and could continue to have an adverse effect on our Commercial business, cash flows, results of operations and financial condition.
- While some provisions became effective on January 1, 2025, additional guidance from the Tri-Agencies is necessary to assess the full impact of these regulations on our operations and financial results.
- We also expect further and ongoing regulatory guidance on a number of issues related to Medicare, including evolving methodology for ratings and quality bonus payments.
- updated · CMS released our 2027 Star Ratings in October 2026, which will be used to determine our Medicare Advantage payments in 2028.
- new · Our 2027 Star Ratings reflect that approximately 49% of our current Medicare Advantage members are enrolled in plans that will be rated at least 4.0 Stars or higher.
- Our operating expense ratio increased primarily due to increases in targeted investments to accelerate technology adoption, an increase in premium tax expenses and assessments and an increase in expenses to address regulatory matters.
- Operating expense increased primarily due to the loss contingency accrual for our best estimate of the identified potential exposure for the resubmission of certain historical Medicare Advantage risk adjustment data, increases in targeted investments to support and strengthen our workforce and accelerate technology adoption and increases related to the Transformation Program.
- Our operating expense ratio increased primarily due to the loss contingency accrual for our best estimate of the identified potential exposure for the resubmission of certain historical Medicare Advantage risk adjustment data, increases in targeted investments to support and strengthen our workforce and accelerate technology adoption and increases related to the Transformation Program.
- We use these measures as a basis for evaluating segment performance, allocating resources, forecasting future operating periods and setting incentive compensation targets.
Elevance Health's latest quarter
Elevance Health, Q3 2026: revenue $51.4B (+1% year over year), operating margin 2.5%, net earnings $1.3B, operating cash flow $1.3B. The chart follows the revenue to costs, profit and cash.
Questions
Did Elevance Health raise or lower its guidance?
Elevance Health (ELV) raised its guidance on Oct 21, 2026: EPS $22.00 for FY2026; Operating cash flow $6.5B for FY2026; EPS $22.00 for FY2026.
What does Elevance Health expect?
We expect the impact of these initiatives to build over time as implementation progresses and the initiatives mature. CMS released our 2027 Star Ratings in October 2026, which will be used to determine our Medicare Advantage payments in 2028. Our 2027 Star Ratings reflect that approximately 49% of our current Medicare Advantage members are enrolled in plans that will be rated at least 4.0 Stars or higher.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.