Anthem, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2016; Provides Earnings Guidance for the Full Year of 2016
November 02, 2016 at 06:00 am EDT
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Anthem, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2016. For the quarter, the company reported total operating revenue of $21,125.2 million against $19,771.4 million a year ago. Total revenues were $21,403.9 million against $19,901.6 million a year ago. Income from continuing operations before income tax expense was $1,136.5 million against $1,129.6 million a year ago. Net income was $617.8 million against $654.8 million a year ago. Net income per diluted share was $2.30 against $2.43 a year ago. Adjusted net income was $656.8 million against $735.0 million a year ago. Adjusted net income per diluted share was $2.45 against $2.73 a year ago. Operating cash flow was $964 million, or 1.6 times net income in the third quarter of 2016.
For the nine months, the company reported total operating revenue of $62,709.1 million against $58,381.1 million a year ago. Total revenues were $63,148.6 million against $58,968.6 million a year ago. Income from continuing operations before income tax expense was $3,896.8 million against $4,256.7 million a year ago. Net income was $2,101.4 million against $2,379.1 million a year ago. Net income per diluted share was $7.84 against $8.66 a year ago. Net cash provided by operating activities was $2,929.8 million against $3,166.9 million a year ago. Net purchases of property and equipment was $415.6 million against $373.0 million a year ago. Adjusted net income was $2,475.3 million against $2,465.9 million a year ago. Adjusted net income per diluted share was $9.24 against $8.98 a year ago. Operating cash flow approximately $2.9 billion, or 1.4 times net income for the first nine months of 2016.
For the full year, the company expects net income is now expected to be approximately $9.28 per share, including approximately $1.52 per share of net unfavorable items. Excluding these items, adjusted net income is now expected to be approximately $10.80. Operating revenue is now expected to be approximately $83.5 billion. Operating cash flow is expected to be approximately $3.0 billion.
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. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2016; Provides Earnings Guidance for the Full Year of 2016