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Mar 31, 2024
CVS Health Q1 2024 Earnings Report
CVS Health reported a revenue increase of 3.7% year-over-year, driven by growth in Health Care Benefits and Pharmacy & Consumer Wellness, but experienced declines in operating income, net income, and EPS due to utilization pressure in the Medicare business. The company revised its full-year guidance to reflect continued elevated medical cost trends.
Key Takeaways
CVS Health's Q1 2024 results showed revenue growth but a decline in profitability due to increased Medicare utilization. The company has revised its full-year guidance to reflect these challenges.
Total revenues increased by 3.7% to $88.4 billion.
GAAP diluted EPS decreased to $0.88 from $1.65 in the prior year.
Adjusted EPS decreased to $1.31 from $2.20 in the prior year.
Cash flow from operations was $4.9 billion.
Revenue by Segment
Forward Guidance
The Company revised its full-year 2024 GAAP diluted EPS guidance to at least $5.64 from at least $7.06 and its full-year 2024 Adjusted EPS guidance to at least $7.00 from at least $8.30. The Company also revised its full-year 2024 cash flow from operations guidance to at least $10.5 billion from at least $12.0 billion.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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