Elevance Health, Inc. is expected to release its Q2 2026 10-Q filing in the upcoming earnings season. Last quarter: Elevance Health reported Q1 2026 revenue of $50.2B (+2.6% YoY) but saw operating income fall 34.2% to $2.1B and net income decline 19.2% to $1.76B, reflecting significant cost pressures from rising medical costs and elevated SG&A spending, partially offset by a strong surge in operating cash flow to $4.3B.
Drawn from management commentary in the Q1 2026 10-Q:
Total revenue grew 2.6% YoY to $50.2B in Q1 2026, up from $48.9B in Q1 2025, indicating continued top-line expansion likely driven by premium rate adjustments and membership growth across health plan segments.
Operating income declined sharply by 34.2% YoY to $2.1B, with operating margin contracting from 6.5% to 4.2%, driven by a 9.6% increase in cost of revenue to $5.5B and a 19.4% surge in SG&A expenses to $6.3B, signaling elevated medical cost trends and administrative cost pressures.
Net income fell 19.2% YoY to $1.76B, and diluted EPS dropped 16.8% to $8.00 from $9.61, reflecting the combined impact of higher operating costs outpacing revenue growth and compressing profitability.
Revenue
$50.18B
++2.64% YoY
EPS (Basic)
$8.03
-16.70% YoY
Operating Income
$2.09B
-34.20% YoY
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