Anthem, Inc., now known as Elevance Health, reported strong profits of $2.4 billion for the second quarter of 2022, an increase of 13.7% over the prior year quarter. Anthem’s operating revenues were also sharply up, growing 15.6% over the prior year quarter to $38.5 billion. Anthem’s adjusted net income was $8.04 per share, beating analysists’ expectations.
In addition, Anthem reported strong membership growth, which increased by 2.7 million members year-over-year to 47.1 million members, with 276,000 new members in the second quarter. Anthem also reported a 3.4% growth in Blue Card membership business compared with the second quarter 2021, which represents members from areas outside of its licensed territories.
Based on these stronger than expected second quarter results, Anthem increased it earnings expectations for 2022, now projecting full-year adjusted net income to be greater than $28.70 per share.
In the press release announcing its earnings, Anthem described its second quarter results as “reflecting strong financial performance, including double-digit growth in revenue, operating earnings and adjusted earnings per share.”
Anthem is one of the nation’s largest health insurers, providing health benefits to one in eight Americans through a number of subsidiary and affiliated companies. Anthem is the largest Blue Cross and Blue Shield licensee, operating Blues plans in fourteen states.
Anthem’s strong second quarter profits followed a highly profitable 2021 and a highly profitable first quarter 2022.
Anthem’s press release announcing its second quarter earnings results is linked here.