Elevance Health posts Q3 2026 earnings beat and lifts full‑year EPS and cash‑flow outlook

Elevance Health reported third‑quarter 2026 revenue of $50.4 billion, up 0.7% year‑over‑year, and adjusted diluted earnings of $6.99 per share, beating analyst estimates. The company raised its FY 2026 adjusted EPS guidance to at least $29.00 and its operating cash‑flow target to at least $6.5 billion. CEO Gail K. Boudreaux highlighted stronger execution across the Health Benefits and Carelon segments, while medical membership fell by about 487 thousand members year‑over‑year.

The higher EPS and cash‑flow guidance suggest stronger profitability and liquidity, which could support continued share repurchases and dividend increases, benefiting shareholders. Analysts such as Guggenheim lifted their price target to $460, reflecting the upgraded outlook.

  • 1Operating revenue for Q3 2026 was $50.4 billion, up 0.7% from Q3 2025.
  • 2Adjusted diluted EPS for Q3 2026 was $6.99 per share.
  • 3Full‑year 2026 adjusted EPS guidance was raised to at least $29.00 per share.
  • 4Full‑year 2026 operating cash‑flow guidance was raised to at least $6.5 billion.
  • 5Medical membership was approximately 44.9 million, down 487 thousand from the prior year.
  • 6Carelon segment revenue grew 5% to $19.3 billion.

Sources