Company: ELV
Filing Date: 2025-07-17
Form Type: 10-Q
Source: 0001156039-25-000114
Chunk: 65

Company: Elevance Health, Inc.
Filing Date: 2025-07-17
Form: 10-Q
Item: Item 8
Chunk 65
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$74,417$4,423 11.9 %$8,596 11.6 %CarelonRx10,6438,77420,75916,8411,869 21.3 %3,918 23.3 %Carelon Services7,4414,54513,9778,5542,896 63.7 %5,423 63.4 %Corporate & Other232122397249110 90.2 %148 59.4 %Eliminations (10,477)(7,377)(19,960)(14,565)(3,100)42.0 %(5,395)37.0 %Total operating revenue$49,421$43,223$98,186$85,496$6,198 14.3 %$12,690 14.8 %Operating Gain (Loss)Health Benefits$1,560$2,145$3,777$4,432$(585)(27.3)%$(655)(14.8)%CarelonRx5364971,1381,02039 7.8 %118 11.6 %Carelon Services400208891498192 92.3 %393 78.9 %Corporate & Other(71)(85)(211)(169)14 (16.5)%(42)24.9 %Total operating gain$2,425$2,765$5,595$5,781$(340)(12.3)%$(186)(3.2)%Operating MarginHealth Benefits3.8 %5.8 %4.5 %6.0 %(200) bp(150) bpCarelonRx5.0 %5.7 %5.5 %6.1 %(70) bp(60) bpCarelon Services5.4 %4.6 %6.4 %5.8 %80 bp60 bpTotal operating margin4.9 %6.4 %5.7 %6.8 %(150) bp(110) bp

bp = basis point; one hundred basis points = 1%.

Three Months Ended June 30, 2025 Compared to the Three Months Ended June 30, 2024

Health Benefits

Operating revenue increased primarily as a result of higher premium yields driven by premium rate increases in all of our lines of business