Elevance Health, Inc.

For the period ended Sep 30, 2025. Filed Oct 21, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2025 · Filed Oct 21, 2025

ELV$429.65+2.7%Stored close · as of Nov 10, 2026

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Contents

Consolidated Statements of Income (Unaudited) for the and

Consolidated Statements of Income

	Three Months Ended September 30		Nine Months Ended September 30
	2025	2024	2025	2024
(In millions, except per share data)
Revenues
Premiums	$41,791	$36,809	$123,949	$107,921
Product revenue	6,159	5,887	18,010	15,916
Service fees	2,137	2,023	6,314	6,378
Total operating revenue	50,087	44,719	148,273	130,215
Net investment income	625	551	1,701	1,524
Net losses on financial instruments	(1)	(125)	(596)	(371)
Gain (loss) on sale of business	—	(39)	—	201
Total revenues	50,711	45,106	149,378	131,569
Expenses
Benefit expense	38,140	32,949	110,158	94,067
Cost of products sold	5,380	5,093	15,656	13,738
Operating expense	5,272	5,269	15,569	15,221
Interest expense	351	300	1,036	845
Amortization of other intangible assets	162	122	464	400
Total expenses	49,305	43,733	142,883	124,271
Income before income tax expense	1,406	1,373	6,495	7,298
Income tax expense	219	365	1,380	1,740
Net income	1,187	1,008	5,115	5,558
Net loss attributable to noncontrolling interests	2	8	—	4
Shareholders’ net income	$1,189	$1,016	$5,115	$5,562
Shareholders’ net income per share
Basic	$5.32	$4.38	$22.73	$23.94
Diluted	$5.32	$4.36	$22.67	$23.81
Dividends per share	$1.71	$1.63	$5.13	$4.89

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.