Elevance Health's Q2 2026 Earnings: What to Expect

Indianapolis, Indiana-based Elevance Health, Inc. (ELV) operates as a health benefits company in the United States. The company has a market cap of $83.4 billion and operates in four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to individuals and employer groups, including risk-based and fee-based plans, BlueCard, Medicare, Medicaid, and others. 

ELV is expected to release its Q2 2026 earnings soon. Ahead of the event, analysts expect the company’s EPS to be $6.18 on a diluted basis, down 30.1% from $8.84 in the year-ago quarter. The company has exceeded Wall Street’s EPS estimates in three of its last four quarters, while missing on one occasion.   

For fiscal 2026, analysts project the company’s EPS to be $26.92, down 11.1% from $30.29 in fiscal 2025. However, its EPS is expected to rise by roughly 8.2% year over year (YoY) to $29.12 in fiscal 2027.   

ELV stock has risen 3.6% over the past 52 weeks, underperforming the S&P 500 Index’s ($SPX) 20.8% rise and the State Street Healthcare Select Sector SPDR ETF’s (XLV) 16.2% rise during the same time frame.     

On Apr. 23, ELV stock rose 5.5% following the release of its Q1 2026 earnings. The company’s revenue for the quarter amounted to $50.2 billion, surpassing the Street’s estimates. Moreover, its adjusted EPS came in at $12.58, also coming in on top of Wall Street’s forecasts. Elevance Health expects full-year earnings to be $26.75 per share. 

Analysts are moderately bullish about ELV, with the stock having a “Moderate Buy” rating overall. Among the 22 analysts covering the stock, 14 are recommending a “Strong Buy,” and eight suggest a “Hold.” ELV’s average analyst price target of $416.90 offers a 7.6% upside potential.