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Home Breaking News

Elevance Health Stands by 2024 Forecast with Strong Financial Results

Elaine Mendonca by Elaine Mendonca
March 4, 2024
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Elevance Health is standing by its forecast for 2024, projecting a net income of over $34.29 per diluted share and more than $37.10 on an adjusted basis, surpassing the anticipated $37.05.

The company delivered impressive financial results in the final quarter of 2023, recording operating revenue of $42.5 billion, a 7.0% rise from the prior year. Their GAAP diluted EPS also saw growth, reaching $3.63, up 1.1% from the same period in 2022. Looking ahead to 2024, Elevance Health expects total operating revenue to remain steady or experience slight growth.

In Q4 of 2023, Elevance Health achieved a net income of $856 million, with total revenues climbing to $42.6 billion, marking a 6.8% increase year over year. While the company’s adjusted profit for the quarter fell slightly short of Wall Street’s projections, Elevance Health remains confident in surpassing profit expectations for the full year of 2024.

On March 4, 2024, Elevance Health reaffirms its strong financial standing and optimistic outlook for the future.

ELV Stock Price Update: March 4, 2024 – Minor Decline with Strong Price Momentum

On March 4, 2024, ELV stock experienced a slight decrease in its price, closing at $499.11. This represents a $2.14 drop from the previous market close, translating to a 0.43% decrease in value. Despite this minor decline, ELV is still trading near the top of its 52-week range and above its 200-day simple moving average, indicating strong price momentum.

After the market closed, ELV stock remained unchanged in after-hours trading, suggesting that investors may be holding steady on their positions. This stability could be a result of market participants taking a wait-and-see approach, possibly awaiting more information or developments before making any significant moves.

Investors should conduct thorough research and analysis before making any investment decisions. ELV’s performance on March 4, 2024, reflects a slight decrease in price but with strong price momentum overall. Investors should continue to monitor the stock’s performance and stay informed of any relevant news or updates that may impact its value in the future.

ELV Stock Performance Analysis: Revenue Increases, Net Income Holds Flat

On March 4, 2024, ELV stock had a mixed performance based on the financial data provided by CNN Money. The total revenue for the company was $171.34 billion over the past year, with $42.65 billion generated in the fourth quarter. This represents a 9.42% increase in total revenue since the previous year, but total revenue held flat compared to the previous quarter.

Net income for ELV was reported at $5.99 billion for the year and $856 million for the fourth quarter. The net income remained flat compared to the previous year and also held flat compared to the previous quarter.

Earnings per share (EPS) for ELV were $25.22 for the year and $3.63 for the fourth quarter. The EPS also remained flat compared to the previous year and held flat compared to the previous quarter.

Tags: ELV
Elaine Mendonca

Elaine Mendonca

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