Elevance Health reported better-than-expected results and raised its guidance amid lower costs in the first quarter, resulting in a 4% increase in its stock price. The health insurance provider exceeded earnings and revenue estimates, with EPS of $10.64 and revenue increasing by 0.9% to $42.3 billion. The benefit expense ratio was 85.6%, an improvement of 20 basis points that also beat forecasts, while premiums slipped by 0.5% and benefit expenses were down by 0.8%. Total operating margin rose to 7.1% from 6.8% last year, reflecting disciplined execution of strategic initiatives during a dynamic time for the industry. CEO Gail Boudreaux said the results “reflect our commitment to delivering value for our customers and shareholders.” The company now anticipates full-year EPS of greater than $37.20, up from its previous outlook of greater than $37.10.
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