Anthem, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2017; Provides Earnings Guidance for the Full Year of 2017
April 26, 2017 at 06:00 am EDT
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Anthem, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported total operating revenue of $22,319.5 million against $20,309.4 million a year ago. Total revenues were $22,525.9 million against $20,288.5 million a year ago. Income before income tax expense was $1,515.0 million against $1,312.0 million a year ago. Net income was $1,009.9 million or $3.73 per diluted share against $703.0 million or $2.63 per diluted share a year ago. Net cash provided by operating activities was $2,688.2 million against $1,359.8 million a year ago. Net purchases of property and equipment was $127.9 million against $117.5 million a year ago. Adjusted net income was $1,265.4 million or $4.68 per diluted share against $925.1 million or $3.46 per diluted share a year ago. The growth in revenue reflected premium rate increases to cover overall cost across its businesses. Additionally, the increase was driven by higher enrollment in the Medicaid, Medicare, and Local Group insured and self-funded businesses.
The company provided earnings guidance for the full year of 2017. Net income is now expected to be greater than $10.37 per share, including approximately $1.23 per share of net unfavorable items. Excluding these items, adjusted net income is now expected to be greater than $11.60. Operating revenue is now expected to be in the range of $88.0 - $89.0 billion. SG&A ratio is now expected to be in the range of 13.6% plus or minus 30 basis points. Operating cash flow is expected to be greater than $3.5 billion, excluding the potential cash payments related to the Penn Treaty assessments during 2017.
Elevance Health, Inc. is the American leading of health insurance. The group provides a broad range of medical and specialty products and services (life and disability insurance, medication, dental, vision insurance system and behavioral care insurance system, long-term health care insurance, medical expenses management, etc.).
Elevance Health, Inc. is an independent licensee of the Blue Cross and Blue Shield Association, an independent association providing health insurance system.
At the end of 2023, the group had nearly 47 million medical members.
Anthem, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2017; Provides Earnings Guidance for the Full Year of 2017