What trends are visible in ELV's 2024 earnings?

Elevance Health (ELV) exhibited several notable trends in its 2024 earnings, reflecting both strengths and challenges in various operational aspects:

1. **Revenue Growth**: ELV's total revenue for 2024 reached $177.01 billion, marking a 3.2% increase from the previous year. This growth was driven by higher premium yields and growth in CarelonRx product revenue.
2. **Earnings Performance**: The company's net income for the year was $5.97 billion. While the diluted EPS for the full year was $25.81, this missed the analyst estimate of $27.08, indicating a 5.2% shortfall.
3. **Segment Performance**: ELV's Health Benefits segment contributed significantly, with a total revenue of $150.3 billion, accounting for 85% of the total revenue. The CarelonRx segment also showed growth, reflecting the company's diversified business strategy.
4. **Challenges and Adjustments**: ELV faced challenges, including membership attrition in its Medicaid business and higher expenses that impacted profit margins. The company responded by adjusting its outlook for the year, raising its guidance for diluted EPS and adjusted diluted EPS.
5. **Shareholder Returns**: ELV increased its quarterly dividend by 5% to $1.71 per share and repurchased 4.5 million shares for $1.8 billion, demonstrating a commitment to returning capital to shareholders.
6. **Market Position and Outlook**: Despite challenges, ELV maintained a strong market position, with expectations for continued growth in Medicare Advantage and other segments. The company reaffirmed its 2025 earnings forecast, projecting adjusted EPS between $34.15 and $34.85.

In summary, ELV's 2024 earnings reflect a company that has navigated growth and challenges effectively, with particular strength in its Health Benefits and CarelonRx segments, and a strategic focus on shareholder returns.