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Evolent Health (EVH) Reports Q1 Earnings: What Key Metrics Have to Say

Evolent Health (EVH) reported $639.65 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 49.6%. EPS of $0.34 for the same period compares to $0.21 a year ago.

The reported revenue represents a surprise of +6.33% over the Zacks Consensus Estimate of $601.6 million. With the consensus EPS estimate being $0.21, the EPS surprise was +61.90%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

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Here is how Evolent Health performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Average PMPM Fees / Revenue per Case - Performance Suite: $21.19 versus $21.34 estimated by three analysts on average.

  • Average PMPM Fees / Revenue per Case - Specialty Technology and Services Suite: $0.41 versus $0.35 estimated by three analysts on average.

  • Average PMPM Fees / Revenue per Case - Administrative Services: $15.57 versus $13.04 estimated by three analysts on average.

  • Average PMPM Fees / Revenue per Case - Cases: $2,849 versus $2,757.83 estimated by three analysts on average.

  • Average Lives on Platform / Cases - Performance Suite: 7,050 thousand versus 6,453.7 thousand estimated by three analysts on average.

  • Average Lives on Platform / Cases - Specialty Technology and Services Suite: 72,302 thousand versus the three-analyst average estimate of 74,886.39 thousand.

  • Average Lives on Platform / Cases - Administrative Services: 1,254 thousand compared to the 1,730.38 thousand average estimate based on three analysts.

  • Average Lives on Platform / Cases - Cases: 15 thousand compared to the 15.55 thousand average estimate based on two analysts.

  • Total Revenue by product type- Performance Suite: $448.22 million compared to the $411.37 million average estimate based on two analysts.

  • Total Revenue by product type- Cases: $43.86 million compared to the $43.31 million average estimate based on two analysts.

  • Total Revenue by product type- Administrative Services: $58.57 million versus $65.76 million estimated by two analysts on average.

  • Total Revenue by product type- Specialty Technology and Services Suite: $89 million compared to the $80.51 million average estimate based on two analysts.

View all Key Company Metrics for Evolent Health here>>>

Shares of Evolent Health have returned -11.7% over the past month versus the Zacks S&P 500 composite's +0.2% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

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