Anthem 1Q Revenue, Profit Grow as Membership Expands

By Matt Grossman

Anthem Inc. on Wednesday logged higher revenue and profit figures year over year in the first quarter as its enrollment grew.

The Indianapolis-based insurer logged shareholders' net income of $6.71 a share, compared with $5.94 a share in the same three-month period a year earlier. Total shareholders' net income was $1.67 billion, up from $1.52 billion in last year's first quarter.

On an adjusted basis, net income was $7.01 a share. Analysts surveyed by FactSet were expecting adjusted earnings of $6.38 a share

Revenue climbed 9.3% to $32.39 billion, from $29.62 billion in the prior-year period. Analysts were expecting revenue of $32.97 billion.

Revenue from premiums rose 8.5% year over year to $27.68 billion, from $25.52 billion. Membership grew by 3.3% to 43.5 million. Enrollment in plans under Anthem's government-business segment climbed by 1.8 million people year over year, helped by Medicaid growth, while commercial and specialty-business enrollment declined by 411,000.

The benefit-expense ratio was 85.6%, up by 1.4 percentage points year over year as costs associated with Covid-19 grew. The ratio measures the costs of coverage compared with premiums charged.

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(END) Dow Jones Newswires

April 21, 2021 06:32 ET (10:32 GMT)

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