Elevance Health Inc. · ELV · Next earnings

Elevance Health Inc. reports Wednesday, Jan 27, 2027

ELV reports before market open with consensus EPS at $2.08 and revenue at $49.38B. Last quarter: Elevance raises EPS outlook as Medicaid and Carelon improve

Reports Before market open83 days awayDate estimated Healthcare

What the street expects

Consensus for the coming report
Consensus EPS $2.08 Calendar consensus
Consensus revenue $49.38B Calendar consensus
Report date Jan 27, 2027 Wednesday, date estimated
Session Before market open 83 days away

Where ELV left off: FY2026 Q3

Full report

Elevance raises EPS outlook as Medicaid and Carelon improve

EPS surprise +48.4% Reported $6.99 vs $4.71
Revenue surprise +2.4% Reported $50.44B vs $49.28B
Stock move -1.4% Event window
Subsequent drift 0.0% Up to 20 sessions

2026 adjusted EPS guidance was raised to at least $29 from at least $27 previously; management also set a 2027 adjusted EPS growth target of at least 12%.

What to watch on the call

Carried forward from the last transcript

Risks management flagged

  • Medicaid cost trends and uncertainty around future rate adjustments.
  • State work-requirement implementation could affect Medicaid membership and acuity.
  • IDR and CMS guidance on ABA therapy create regulatory uncertainty.
  • ACA enrollment may be volatile as enhanced subsidies expire.
  • Commercial cost trends and IDR outcomes could pressure margins.

Questions analysts left open

  • Depth of Medicaid margin improvement and reliance on rate actions.
  • Effect of work-requirement policies on Medicaid enrollment and cost trends.
  • Impact of IDR on commercial margins and 2027 pricing assumptions.
  • Sustainability of ACA enrollment and risk-adjustment dynamics.
  • Performance outlook for CarelonRx and the broader Carelon services pipeline.

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Recent ELV quarters

All ELV earnings
-1.4%FY2026 Q3-8.5%FY2026 Q2+0.0%FY2026 Q1+5.9%FY2025 Q4

Sources

  1. FN2 corporate events calendar, resolved from the earnings calendar feed
  2. FN2 earnings calendar analyst consensus
  3. Earnings call transcript analysis, FY2026 Q3

Methodology

The report date comes from FN2's resolved corporate-events calendar and is marked estimated until the company confirms it. Consensus figures are the calendar's latest analyst estimates for the fiscal period and are not an FN2 forecast.

Risks and open questions are carried forward verbatim from FN2's structured analysis of the previous earnings call. Missing values stay missing and are never estimated.

By FN2 Research · Updated . For educational purposes only; not investment advice.