Anthem, Inc. reported strong profits of $2.4 billion for the first quarter of 2022, an increase of 13.2% over the prior year quarter. Anthem’s operating revenues were also sharply up, growing 18% over the prior year quarter to $37.9 billion. Anthem’s adjusted net income was $8.25 per share, beating analysists’ expectations.
In addition, Anthem reported strong membership growth, which increased by 3.3 million members year-over-year to 46.8 million members. Much of that membership growth was in the government business sector. Anthem also reported a 3.3% growth in BlueCard membership business compared with the first quarter 2021, which represents members from areas outside of its licensed territories.
Based on these stronger than expected first quarter results, Anthem increased it earnings expectations for 2022, now projecting full-year adjusted net income to be greater than $28.40 per share.
In the press release announcing its first quarter earnings, Anthem’s President and CEO Gail K. Boudreaux characterized Anthem’s earnings as showing “strong momentum across all our businesses…”
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 first quarter profits followed a highly profitable 2021.