Elevance Health delivered a strong first quarter, exceeding expectations through solid business performance, strategic realignment, and advanced AI integration, prompting a raised full-year EPS guidance of at least $26.75.

• First quarter results benefited from improved claims experience, ACA seasonality, and nonrecurring investment income.
• Strategic initiatives—including leadership realignment and scaling AI—are enhancing operational efficiency and clinical outcomes.
• Carelon’s integrated, risk-based solutions reduced hospital readmissions by 20% and achieved over 10% savings on post-acute care.
• Progress in Medicaid and Medicare Advantage management supports mid-single-digit operating margins, with ongoing focus on risk adjustment and long-term value.
• Commercial and individual ACA businesses show disciplined pricing and modest retention improvements, bolstering future growth prospects.