ELV
FY2026 Q2 · Calendar Q3 2026
Elevance Health Inc.
Elevance Health delivered a strong Q2 2026 beat — adjusted EPS of $7.45 versus $6.21 expected (+20%) on revenue of $49.8B (+1.9%) — and raised full-year adjusted EPS guidance from at least $26.75 to at least $27. Despite the beat-and-raise, the stock fell 8.5% on 2.4x normal volume. The modest $0.25 guidance increase, against a $0.80 per-share one-time benefit redirected to accelerated investments, suggests most of the upside was reinvested rather than flowing to shareholders. Persistent Medicaid margin pressure (-1.75% guided), planned market exits, and uncertainty around second-half utilization trends may have weighed on sentiment.
EPS surprise+20.0%
Market move-8.5%
