Filing Flows › Elevance Health (ELV) › Q2 2026 › vs Q1 2026
Elevance Health (ELV) Q2 2026 vs Q1 2026 (quarter over quarter)
Elevance Health's revenue rose $293M (+0.6%) from $50.2B in Q1 2026 to $50.5B in Q2 2026. Operating margin 3.5% against 4.2% (-0.7 pts).
Elevance Health, Q2 2026: revenue $50.5B (+1% year over year), operating margin 3.5%, net earnings $1.5B, operating cash flow $1.9B. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 3.5% | 4.2% | -0.7 pts |
| Net margin | 2.9% | 3.5% | -0.6 pts |
| Free cash flow margin | 3.2% | 8.2% | -4.9 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Revenue | $50.5B | $50.2B | $293M | +0.6% |
| Other income, net | $174M | $218M | −$44.0M | -20% |
| Operating profit | $1.8B | $2.1B | −$323M | -15% |
| Costs & expenses | $48.7B | $48.1B | $616M | +1% |
| Pre-tax earnings | $1.9B | $2.3B | −$367M | -16% |
| Cost of revenue | $5.5B | $5.5B | $29.0M | +0.5% |
| SG&A | $5.5B | $6.3B | −$783M | -12% |
| Other operating costs | $37.7B | $36.3B | $1.4B | +4% |
| Net earnings | $1.5B | $1.8B | −$306M | -17% |
| Income tax | $483M | $544M | −$61.0M | -11% |
| Depreciation & amortization | $366M | $354M | $12.0M | +3% |
| Share-based compensation | $75.0M | $55.0M | $20.0M | +36% |
| Working capital & other | $18.0M | $2.2B | −$2.1B | -99% |
| Operating cash flow | $1.9B | $4.3B | −$2.4B | -56% |
| Free cash flow (OCF − capex) | $1.6B | $4.1B | −$2.5B | -60% |
| Capital expenditures | $287M | $235M | $52.0M | +22% |
Questions
How much did Elevance Health's revenue grow quarter over quarter in Q2 2026?
Elevance Health's revenue rose $293M (+0.6%) from $50.2B in Q1 2026 to $50.5B in Q2 2026. Operating margin 3.5% against 4.2% (-0.7 pts).