Elevance Health ELV Q4 2025 Earnings Transcript

Motley Fool Transcribing, The Motley Fool

Wed, January 28, 2026 astatine 9:13 AM CST 49 min read

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Jan. 28, 2026, 8:30 a.m. ET

• Chief Executive Officer — Gail Boudreaux

• Chief Financial Officer — Mark Kaye

• President, Health Solutions — Peter Haytaian

• President, Government Health Benefits — Felicia Norwood

• President, Commercial and Specialty Health Benefits — Morgan Kendrick

Gail volition statesman the telephone with a treatment of our 4th fourth performance, our 2026 guidance, and the advancement we proceed to marque connected our strategical priorities. Mark volition past sermon our fiscal results and outlook successful greater detail. After our prepared remarks, the squad volition beryllium disposable for Q&A. During the call, we volition notation definite non-GAAP fiscal measures. Reconciliations of these non-GAAP measures to the astir straight comparable GAAP measures are disposable connected our website elevancehealth.com. We volition besides beryllium making forward-looking statements connected this call. Listeners are cautioned that these statements are taxable to definite risks and uncertainties, galore of which are hard to foretell and mostly beyond the power of Elevance Health.

These risks and uncertainties whitethorn origin existent results to disagree materially from our existent expectations. We counsel listeners to cautiously reappraisal the hazard factors discussed successful today's property merchandise and successful our quarterly filings with the SEC. I volition present crook the telephone implicit to Gail.

Gail Boudreaux: Good morning, and convey you for joining america today. Affordability remains the cardinal situation successful wellness care. At Elevance Health, our absorption is connected improving outcomes, making attraction easier to entree and navigate, and managing costs responsibly. Our committedness to full idiosyncratic wellness shapes however we present connected our strategy. Strengthening attraction coordination, reducing unnecessary complexity, and creating a simpler acquisition for those we serve. Before I spell done the business, determination are 3 points I privation to underscore. First, 2026 is simply a twelvemonth of execution and repositioning. And the outlook we provided contiguous reflects prudent achievable assumptions grounded successful pricing discipline, operational rigor, and targeted investments.

Second, adjacent successful a dynamic environment, we are acting decisively successful the areas wrong our power to fortify margins, trim volatility, and amended the consistency of our performance. And third, arsenic those actions instrumentality hold, we expect to instrumentality to astatine slightest 12% adjusted EPS maturation successful 2027 disconnected our ending 2026 net baseline supported by the net powerfulness of our diversified platform. Consistent with that approach, we are establishing 2026 adjusted diluted net per stock guidance of astatine slightest $25.50. As you see the year-over-year comparison, it's important to retrieve that our 2025 results included astir $3.75 per stock of favorable nonrecurring items. Let maine locomotion done however we are positioning the portfolio.