CVS Health Corporation Q1 2026 Earnings Recap

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.