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Elevance Health (NYSE: ELV) reiterates 2026 EPS and benefit ratio outlook

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Elevance Health, Inc. is reaffirming its full year 2026 earnings outlook in discussions with investors and analysts. The company continues to expect shareholders’ earnings to be at least $19.85 per diluted share, which includes approximately $6.90 per diluted share of net unfavorable items. Excluding these items, adjusted shareholders’ earnings are still expected to be at least $26.75 per diluted share, consistent with prior guidance. Elevance Health is also reiterating its 2026 benefit expense ratio guidance of 90.2% plus or minus 50 basis points, indicating its current view of medical cost trends for the year.

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Item 7.01 Regulation FD Disclosure Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
2026 EPS guidance $19.85 per diluted share Full year 2026 shareholders’ earnings, including net unfavorable items
Net unfavorable items $6.90 per diluted share Included within 2026 shareholders’ earnings guidance
2026 adjusted EPS guidance $26.75 per diluted share Full year 2026 adjusted shareholders’ earnings, excluding specified items
Benefit expense ratio 90.2% ± 50 bps Full year 2026 benefit expense ratio guidance
Regulation FD regulatory
"Item 7.01 - Regulation FD Disclosure Officers of Elevance Health, Inc."
Regulation FD is a rule that prevents company insiders, like executives, from sharing important information with some people before others get it. It matters because it helps ensure all investors have equal access to key news, making the stock market fairer and reducing chances of insider trading.
benefit expense ratio financial
"reaffirm full year 2026 benefit expense ratio guidance of 90.2% plus or minus 50 basis points"
Benefit expense ratio measures the share of an insurer’s income (typically premiums or program revenue) that is paid out as benefits, claims or direct customer payouts. It matters to investors because a high ratio means more of the company’s revenue is going to cover obligations rather than profit or growth—like watching how much of your paycheck goes to rent versus savings, it signals cost pressure and sustainability.
forward-looking statements regulatory
"This document contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995."
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
Centers for Medicare and Medicaid Services Star Ratings regulatory
"our ability to maintain and achieve improvement in Centers for Medicare and Medicaid Services Star Ratings"
healthcare costs and utilization rates financial
"These risks and uncertainties include, but are not limited to: trends in healthcare costs and utilization rates;"
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Understanding 8-K Material Events →
FALSE000115603900011560392026-06-102026-06-10

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
___________________________________
FORM 8-K
___________________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934

June 10, 2026
Date of Report (Date of earliest event reported)
___________________________________
Elevance Health, Inc.
(Exact name of registrant as specified in its charter)
___________________________________

Indiana
(State or other jurisdiction of
incorporation or organization)
001-16751
(Commission File Number)
35-2145715
(I.R.S. Employer Identification Number)
220 Virginia Ave
Indianapolis, IN 46204
(Address of principal executive offices and zip code)
(833) 401-1577
(Registrant's telephone number, including area code)
________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol
Name of each exchange on which registered
Common Stock, Par Value $0.01
ELV
NYSE
Indicate by check mark whether the registrant is an emerging growth company as defined Rule 405 of the Securities Act (§230.405 of this chapter) or Rule 12b-2 of the Exchange Act (§240.12b-2 of this chapter).
Emerging growth company    ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.



Item 7.01 - Regulation FD Disclosure

Officers of Elevance Health, Inc. (the “Company”) expect to speak with investors and analysts this week. During these meetings, Company officers will reaffirm the Company’s shareholders’ earnings guidance for full year 2026 to be at least $19.85 per diluted share, including approximately $6.90 per diluted share of net unfavorable items. Excluding these items, the Company continues to expect adjusted shareholders’ earnings to be at least $26.75 per diluted share. This does not include any other adjustment items beyond those reported in the Company's first quarter 2026 earnings.

During these meetings, Company officers will also reaffirm full year 2026 benefit expense ratio guidance of 90.2% plus or minus 50 basis points.

None of the information furnished in Item 7.01 hereto shall be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended. Unless expressly set forth by specific reference in such filings, none of the information furnished in this report shall be incorporated by reference in any filing under the Securities Act of 1933, as amended, whether made before or after the date hereof and regardless of any general incorporation language in such filings.


FORWARD-LOOKING STATEMENTS

This document contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect our views about future events and financial performance and are generally not historical facts. Words such as “expect,” “feel,” “believe,” “will,” “may,” “should,” “anticipate,” “intend,” “estimate,” “project,” “forecast,” “plan,” "potential," "predict” and similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to: financial projections and estimates and their underlying assumptions; statements regarding plans, objectives and expectations with respect to future operations, products and services; and statements regarding future performance. Such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond our control, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof. You are also urged to carefully review and consider the various risks and other disclosures discussed in our reports filed with the U.S. Securities and Exchange Commission from time to time, which attempt to advise interested parties of the factors that affect our business. Except to the extent required by law, we do not update or revise any forward-looking statements to reflect events or circumstances occurring after the date hereof. These risks and uncertainties include, but are not limited to: trends in healthcare costs and utilization rates; reduced enrollment; our ability to secure and implement sufficient premium rates; the impact of large scale medical emergencies, such as public health epidemics and pandemics, and other catastrophes; the impact of new or changes in existing federal, state and international laws or regulations, including laws and regulations impacting healthcare, insurance, pharmacy services and other diversified products and services, or their enforcement or application; the impact of cyber-attacks or other privacy or data security incidents or our failure to comply with any privacy, data or security laws or regulations, including any investigations, claims or litigation related thereto; failure to effectively maintain and modernize our information systems, or failure of our information systems or technology, including artificial intelligence, to operate as intended; failure to effectively maintain the availability and integrity of our data; changes in economic and market conditions, as well as regulations that may negatively affect our liquidity and investment portfolios; competitive pressures and our ability to adapt to changes in the industry and develop and implement strategic growth opportunities; risks and uncertainties regarding Medicare and Medicaid programs, including those related to non-compliance with the complex regulations imposed thereon; our ability to maintain and achieve improvement in Centers for Medicare and Medicaid Services Star Ratings and other quality scores and funding risks with respect to revenue received from participation therein; a negative change in our


healthcare product mix; costs and other liabilities associated with litigation, government investigations, audits or reviews; our ability to contract with providers on cost-effective and competitive terms; risks associated with providing healthcare, pharmacy and other diversified products and services, including medical malpractice or professional liability claims and non-compliance by any party with the pharmacy services agreement between us and CaremarkPCS Health, L.L.C.; the effects of any negative publicity or sentiment related to the health benefits industry in general or us in particular; risks associated with mergers, acquisitions, joint ventures and strategic alliances; possible impairment of the value of our intangible assets if future results do not adequately support goodwill and other intangible assets; possible restrictions in the payment of dividends from our subsidiaries and increases in required minimum levels of capital; our ability to repurchase shares of our common stock and pay dividends on our common stock due to the adequacy of our cash flow and earnings and other considerations; the potential negative effect from our substantial amount of outstanding indebtedness and the risk that increased interest rates or market volatility could impact our access to or further increase the cost of financing; a downgrade in our financial strength ratings; events that may negatively affect our licenses with the Blue Cross and Blue Shield Association; intense competition to attract and retain employees; risks associated with our international operations; and various laws and provisions in our governing documents that may prevent or discourage takeovers and business combinations.


SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized on this 10th day of June, 2026.



ELEVANCE HEALTH, INC.
By:
/s/ Kathleen S. Kiefer
Name:
Kathleen S. Kiefer
Title:
Chief Governance Officer and Corporate Secretary

Source: View Original Filing on SEC EDGAR

FAQ

What 2026 EPS guidance did Elevance Health (ELV) reaffirm?

Elevance Health reaffirmed full year 2026 shareholders’ earnings guidance of at least $19.85 per diluted share. This figure includes net unfavorable items and reflects management’s current expectations discussed with investors and analysts during recent meetings.

What is Elevance Health’s adjusted EPS outlook for 2026?

Elevance Health continues to expect adjusted shareholders’ earnings for full year 2026 to be at least $26.75 per diluted share. This adjusted figure excludes approximately $6.90 per diluted share of net unfavorable items already identified in the 2026 outlook.

How much net unfavorable items are included in Elevance Health’s 2026 EPS?

The 2026 shareholders’ earnings guidance of at least $19.85 per diluted share includes about $6.90 per diluted share of net unfavorable items. These items are already reflected in the company’s outlook and separate from its adjusted earnings expectation.

What benefit expense ratio guidance did Elevance Health (ELV) reaffirm for 2026?

Elevance Health reaffirmed its full year 2026 benefit expense ratio guidance at 90.2% plus or minus 50 basis points. This ratio represents expected medical and related benefit costs as a percentage of premium revenue for the year.

Does Elevance Health’s 2026 guidance include new adjustment items beyond Q1 2026?

The company stated its 2026 adjusted earnings expectation does not include any adjustment items beyond those reported in its first quarter 2026 earnings. Future items not yet reported are therefore not reflected in the current adjusted guidance.

Is Elevance Health’s reaffirmed guidance considered forward-looking information?

Yes. Elevance Health describes this guidance as forward-looking statements subject to various risks and uncertainties. The company highlights factors like healthcare costs, regulatory changes, competition, and economic conditions that could cause actual results to differ materially.

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