The Indianapolis-based insurer paid a quarterly dividend totaling $238 million in cash.
Anthem Inc.'s operating revenue topped $30 billion during Q3, though the insurer's operating cash flow declined $2.8 billion, according to the company's latest earnings report released Wednesday morning.
Again, the company benefited from the continued success of IngenioRx, which contributed to an increase of $4.2 billion in operating revenue compared to Q3 2019.
Additionally, Anthem's medical enrollment totaled 42.6 million members, up 172,000 quarter-over-quarter.
Related: Anthem Earnings: Operating Revenue Jumped $4B Due to IngenioRx Revenues
The Indianapolis-based insurer, like other healthcare companies, experienced headwinds related to the ongoing COVID-19 pandemic.
The company produced a negative operating cash flow of $1.2 billion, its benefit expense ratio declined to 86.8%, and both the Commercial & Specialty business as well as the Government business segments saw declines.
Related: Judge Orders Anthem Must Keep a Share of Kentucky's $8 Billion in Medicaid Contracts
Commercial & Specialty reported an operating loss of $234 million, a $1.15 billion reversal after the $924 million operating gain in Q3 2019, and the Government business recorded a $246 operating gain, down from the $616 million operating gain reported this time last year.
C-suite perspective:
"Against the backdrop of the ongoing pandemic, Anthem and its dedicated associates have continued to respond quickly and with compassion to meet the evolving needs of our members, customers, partners and communities," Gail Boudreaux, CEO of Anthem, said in a statement. "I am proud of our performance this quarter to drive continued growth across our business, provide new and innovative solutions as a trusted health partner, and create positive and sustainable change for our communities. As we look ahead, I know we are well positioned to continue our strong momentum and continue to deliver greater value for all of our stakeholders."
The insurer had several business-related developments during Q3.
A Delaware judge rebuffed both Anthem and Cigna Corp. in a case related to the failed merger between the two companies and Doc.AI, a Silicon Valley startup, signed a deal with the company at the end of the quarter.
Most notably, the company reached a multistate settlement over a months-long data breach that took place in 2015 and exposed the personal information of nearly 79 million people.
Related: Anthem to Pay $39.5M to Settle 2015 Cyber-Attack
Anthem also paid a quarterly dividend totaling $238 million in cash.
During Q3, the company repurchased 2.9 million shares of common stock for $759 million and has repurchased 5 million shares for $1.3 billion year-to-date.
For complete financial information, review Anthem's filing with the Securities and Exchange Commission.
Jack O'Brien is the Content Team Lead and Finance Editor at HealthLeaders, an HCPro brand.