CVS Health Corporation Earnings Recaps
Q1 2026
May 7, 2026
CVS Health's shares rose 8.2% following a better-than-expected quarter marked by an increased full-year adjusted EPS guidance and strong operational execution across segments.
Key takeaways
- Reported adjusted operating income of $5.2 billion and adjusted EPS of $2.57 for Q1 2026.
- Raised full-year adjusted EPS guidance to $7.30–$7.50, up from $7.00–$7.20.
- Continued focus on lowering net costs via pharmacy benefits management, exemplified by $25 insulin pricing across 60,000+ pharmacies.
- Accelerating biosimilar adoption by excluding branded STELARA from commercial formularies starting July 1, leveraging prior success with HUMIRA conversions.
- Maintained industry leadership in prior authorization efficiency, with over 95% approvals within 24 hours and 88% of PA procedures standardized today.
Q3 2025
Oct 29, 2025
CVS Health reported strong third-quarter results with adjusted earnings per share rising to $1.60, prompting an increase in full-year guidance. The diversified business strategy shows promise, despite challenges in Health Care Delivery.
Key takeaways
- Adjusted operating income reached $3.5 billion, reflecting robust performance across the enterprise.
- Full-year adjusted earnings per share guidance revised upwards to $6.55–$6.65 from the previous range of $6.30–$6.40.
- Aetna continues to excel, leading in Medicare Advantage Stars Ratings with over 81% of members in 4-star plans or higher.
- A $5.7 billion goodwill impairment was recorded due to restrained growth expectations for Oak Street Health, underscoring the need for strategic adjustments.
- While navigating challenges in Pharmacy Services, CVS remains committed to drug cost transparency and innovative pricing models for consumers.