Anthem 2Q Profit Slips; Benefit-Expense Ratio Rises
July 21 2021 - 6:49AM
Dow Jones News
By Dave Sebastian
Anthem Inc.'s profit fell in the second quarter while overall
revenue rose.
The Indianapolis-based insurer on Wednesday posted net income
attributable to shareholders of $1.79 billion, compared with $2.28
billion in the prior year. Earnings were $7.25 a share, compared
with $8.91 a share in the year-ago period.
Adjusted earnings were $7.03 a share. Analysts polled by FactSet
were expecting $6.34 a share.
Revenue rose nearly 16% to $33.85 billion. Analysts were looking
for $33.13 billion.
Revenue from premiums rose about 14% to $28.53 billion.
The benefit-expense ratio was 86.8%, up 8.9 percentage points
over the prior-year quarter and up 7.5 points after adjusting for
the repeal of the health insurance tax in 2021, the company said.
The ratio rose because of an increase in non-Covid and
Covid-related healthcare costs, the company added. The metric
measures the costs of coverage compared with premiums charged.
Medical enrollment totaled about 44.3 million members on June
30, the company said, up 4.4% from the year-ago quarter.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
July 21, 2021 06:39 ET (10:39 GMT)
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