Elevance Health reported fourth-quarter 2024 GAAP diluted earnings per share of $1.81 and adjusted diluted earnings per share of $3.84, consistent with prior expectations. Full-year 2024 operating revenue reached $175.2 billion, an increase of 3% year-over-year, driven by higher premium yields, acquisitions, and CarelonRx growth, partially offset by Medicaid attrition.
For 2025, the company provided adjusted diluted EPS guidance in the range of $34.15 to $34.85. Operating revenue is anticipated to grow in the high-single to low-double-digit percent range, with the consolidated medical loss ratio projected around 89.1% (+/- 50 bp) and the adjusted operating expense ratio expected to be around 10.4% (+/- 50 bp).
The Board of Directors approved a 4.9% increase in the quarterly dividend to $1.71 per share, payable on March 25, 2025, to shareholders of record on March 10, 2025. This marks the 14th consecutive annual increase, signaling confidence in future cash flows. The Carelon segment continued its growth, with the acquisition of CareBridge in Q4 bolstering home- and community-based services.
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