Company: ELV
Filing Date: 2025-04-22
Form Type: 10-Q
Source: 0001156039-25-000057
Chunk: 82

Company: Elevance Health, Inc.
Filing Date: 2025-04-22
Form: 10-Q
Item: Item 2
Chunk 82
---
 offset by increases in operating gain in our CarelonRx and Carelon Services businesses, increased net investment income and decreased income tax expense. 

 Our fully-diluted shareholders’ earnings per share (“EPS”) was $9.61 for the three months ended March 31, 2025, which represented a 0.2% increase from EPS of $9.59 for the three months ended March 31, 2024. The increase in EPS resulted primarily as a result of fewer diluted shares outstanding. 

Operating cash flow for the three months ended March 31, 2025 and 2024 was $1,017 and $1,978, respectively. The decrease in net cash provided by operating activities was primarily due to timing related changes in working capital. 

Membership and Other Metrics

The following table presents our medical membership by customer type as of March 31, 2025 and 2024. Also included below is other membership by product and other metrics. The membership data and other metrics presented are unaudited and in certain instances include estimates of the number of members represented by each contract at the end of the period. The CarelonRx Quarterly Adjusted Scripts metric represents adjusted script volume based on the number of days a prescription covers. On an adjusted basis, one 90-day script counts the same as three 30-day scripts. The Carelon Services Consumers Served metric represents the number of consumers receiving one or more healthcare-related services from Carelon Services who are members of our affiliated health plans as well as those who are members of non-affiliated health plans. For a more detailed description of our medical membership, see the “Membership” section of Part II, Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included in our 2024 Annual Report on Form 10-K.

-39-

March 31  20252024Change% ChangeMedical Membership (in thousands)Individual1,423 1,246 177 14.2 %Employer Group Risk-Based3,638 3,648 (10)(0.3)%Commercial Risk-Based5,061 4,894 167 3.4 %BlueCard®16,608 6,635 (27)(0.4)%Employer Group Fee-Based20,522 20,622 (100)(0.5)%Commercial Fee-Based27,130 27,257 (127)(0.5)%Medicare Advantage2,255 2