Filing Flows › Elevance Health (ELV) › Q1 2026
Elevance Health (ELV) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 22, 2026
Elevance Health (ELV) reported revenue of $50.2B for the first quarter 2026 (Q1 2026), +3% from a year earlier and +0.9% from the quarter before. Operating margin was 4.2%, net earnings $1.8B (3.5% of revenue).
Elevance Health, Q1 2026: revenue $50.2B (+3% year over year), operating margin 4.2%, net earnings $1.8B, operating cash flow $4.3B. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $50.2B | +0.9% | +3% |
| Operating profit | $2.1B | +575% | -34% |
| Net earnings | $1.8B | +222% | -19% |
| Operating cash flow | $4.3B | 52× | +326% |
| Free cash flow | $4.1B | — | +399% |
What changed
Revenue was $50.2B in Q1 2026, up 3% year over year and up 1% from the previous quarter.
Operating profit was $2.1B, a 4.2% margin (down 2.3 points year over year). Operating profit fell $1.1B even though revenue rose $1.3B versus Q1 2025, so costs grew faster than sales. Total costs grew 5% against revenue growth of 3%. The fastest-growing cost line was SG&A (+19%). Net earnings were $1.8B, down 19% year over year. The effective tax rate was 23.6%.
Operating cash flow was $4.3B (up 326% year over year), 246% of net earnings. Non-cash charges added back $0.35B of depreciation and amortization and $0.06B of share-based compensation. Working capital and other items added $2.2B. Capital expenditures of $0.23B left free cash flow of $4.1B.
Questions
What was Elevance Health's revenue in the first quarter 2026?
Elevance Health (ELV) reported revenue of $50.2B for the first quarter 2026 (Q1 2026), +3% from a year earlier and +0.9% from the quarter before.
Was Elevance Health profitable in the first quarter 2026?
Operating profit was $2.1B (4.2% of revenue) and net earnings $1.8B.
Source: Elevance Health 10-Q on SEC EDGAR.