Elevance Health, Inc. reported its financial results for the third quarter and the first nine months of 2026, revealing a mixed performance in revenue and profitability compared to the previous fiscal period. For the three months ended September 30, 2026, the company generated total revenues of $51.4 billion, a 1.4% increase from $50.7 billion in the same period last year. The nine-month revenue also saw a rise, reaching $152.1 billion, up from $149.4 billion. However, net income for the third quarter increased to $1.365 billion, a 14.8% rise from $1.189 billion in Q3 2025, while net income for the nine months decreased by 10.2% to $4.592 billion from $5.115 billion.
The company experienced notable changes in its operational metrics, with total medical membership declining by 1.1% year-over-year to approximately 44.9 million members as of September 30, 2026. This decline was primarily attributed to attrition in Medicaid membership due to eligibility redeterminations, alongside decreases in Medicare Advantage and Commercial Risk-Based memberships. Conversely, the Commercial Fee-Based business saw an increase, partially offsetting the overall decline. The company also reported an increase in CarelonRx product revenues, contributing to the overall revenue growth.
Elevance Health has been actively pursuing strategic initiatives, including the implementation of a Transformation Program aimed at streamlining operations and enhancing technology use across the organization. This program has involved workforce realignments and targeted reductions, with costs associated with the program amounting to $147 million for the nine months ended September 30, 2026. The company also reported a significant increase in net investment income, which rose by 65.9% to $1.037 billion in Q3 2026, reflecting improved performance in alternative investments.
In terms of financial health, Elevance Health maintained a strong liquidity position with cash and cash equivalents totaling $10.348 billion as of September 30, 2026, up from $9.491 billion at the end of 2025. The company’s debt-to-capital ratio improved to 40.7%, down from 42.1% at the end of the previous year, indicating a stronger capital structure. Looking ahead, Elevance Health anticipates continued challenges in the healthcare landscape, particularly regarding medical cost trends and regulatory changes, but remains focused on leveraging its operational efficiencies and strategic initiatives to drive future growth.
About Elevance Health, Inc.
Elevance Health is a leading U.S. health company providing managed care health insurance, pharmacy, and healthcare services. Its core segments include health benefits, pharmacy services, and integrated care delivery, serving individuals, employers, and government programs like Medicare and Medicaid. The company leverages extensive provider networks, value-based care models, and innovative digital tools to improve healthcare quality, affordability, and access across diverse markets.
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