Skip to main content


Anthem Earnings: Operating Revenue Jumped $4B Due to IngenioRx Revenues

By Jack O'Brien  
   July 29, 2020

The Indianapolis-based insurer resumed its share repurchase program at the end of Q2.

Despite the domestic spread of the coronavirus disease 2019 (COVID-19) during Q2 2020, Anthem Inc. reported an operating revenue of $29.2 billion, an increase of $4 billion largely attributed to success of IngenioRx.

The company's pharmacy benefit manager recorded an operating gain of $300 million during Q2 and an operating revenue of more than $5.2 billion.

According to the company's latest earnings report released Wednesday morning, Anthem's medical enrollment grew by 1.6 million covered lives year-over-year, bolstered by higher BlueCard activity and the purchase of AmeriBen in Q1.

Anthem's operating cash flow rose by $4.1 billion quarter-over-quarter, which the company attributed to, "growth in net income and the delayed payment of certain federal income and payroll taxes in accordance with the CARES Act."

Related: Coronavirus Earnings Season: Anthem Withdraws Guidance, Humana Revises Outlook

The Indianapolis-based insurer also resumed its share repurchase program at the end of Q2, after announcing the temporary suspension of the program in its Q1 earnings report.

C-suite perspective: 

"During these uncertain times, our business has continued to adapt and respond to the needs of those we serve in light of COVID-19 and the important discussions around health disparities and racial injustice facing our society. Now more than ever, our members, customers, and local communities are looking to us for support and I am honored by the trust they have placed in us," Gail Boudreaux, CEO of Anthem, said in a statement. "Together, with our more than 78,000 associates, Anthem is guided by our mission of improving lives and building a better and healthier America."

Related: Anthem's Stock is Down as it Announces Health Insurance Credits

Forward looking, Anthem expects its GAAP net income to be greater than $20.91 per share and still projects its adjusted net income will be greater than $22.30 per share.

Related: Despite Pandemic, Anthem Blue Cross Profits Steady and Healthy

For complete financial information, review Anthem's filing with the Securities and Exchange Commission.

Jack O'Brien is the finance editor at HealthLeaders, a Simplify Compliance brand.

Get the latest on healthcare leadership in your inbox.