ELV · 10-Q · 2026Q2 · Full report

Shareholders' Net Income and EPS Decline

Elevance Health, Inc. · 2026-07-15 · Importance 50 · Surprise 58 · In source text

Shareholders’ net income was $3,227 million for the six months ended June 30, 2026, a decrease of $699 million, or 17.8%, from $3,926 million for the six months ended June 30, 2025. Fully-diluted EPS declined to $14.73 for the six months ended June 30, 2026, a 15.0% decrease from $17.33 for the six months ended June 30, 2025. The MD&A attributes the six-month decline primarily to a loss contingency accrual for the resubmission of certain historical Medicare Advantage risk adjustment data and decreased operating gain in the Health Benefits and Carelon Services segments.

Key facts

• Shareholders’ net income for the six months ended June 30, 2026 was $3,227, a decrease of $699, or 17.8%, from the six months ended June 30, 2025. source
• Shareholders’ net income for the three months ended June 30, 2026 was $1,463, a decrease of $280, or 16.1%, from the three months ended June 30, 2025. source
• Diluted shareholders’ earnings per share for the three months ended June 30, 2026 was $6.71, a 13.1% decrease from $7.72 for the three months ended June 30, 2025. source
• Diluted shareholders’ earnings per share for the six months ended June 30, 2026 was $14.73, a 15.0% decrease from $17.33 for the six months ended June 30, 2025. source
• The increase in net cash provided by operating activities was primarily due to favorable working capital impacts, partially offset by lower shareholders’ net income for the six months ended June 30, 2026. source

Impact estimates