Anthem Shares Jump On Raised FY22 Outlook Boosted By Better Than Expected Q1 Results

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  • Anthem Inc ANTM has reported Q1 FY22 adjusted EPS of $8.25, up 17.7% Y/Y, beating the consensus of $7.81.
  • Operating revenue rose 18% to $37.9 billion, slightly beating the expectations of $37.42 billion, driven by higher premium revenue due to growth in Medicaid & Medicare, MMM & Paramount acquisitions, higher premium rates, and pharmacy product revenue related to IngenioRx.
  • The benefit expense ratio was 86.1%, increasing 50 basis points versus the prior-year quarter. 
  • Operating cash flow was $2.5 billion, or 1.4x net income, increasing $36 million when compared year-over-year.
  • Medical enrollment increased 7.5% Y/Y to 46.8 million members. 
  • Medical enrollment increased by 1.4 million lives, driven by organic growth in Commercial fee-based business, the acquisition of Paramount Advantage's Medicaid members in Ohio, and growth in Individual Medicare Advantage enrollment.
  • On April 19, 2022, the company's board declared a second-quarter 2022 dividend of $1.28 per share, payable on June 24, 2022, to shareholders of record on June 10, 2022.
  • FY22 Outlook: Anthem expects FY22 adjusted EPS of more than $28.40 versus prior guidance of $28.25.
  • Price Action: ANTM shares are up 3.13% at $533.21 during the premarket session on the last check Wednesday.
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