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CVS Health
🇺🇸 NYSE:CVS
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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.

Total Revenue
$88.5B
Previous year: $85.3B
+3.7%
EPS
$1.31
Previous year: $2.2
-40.5%
Medical membership
26.8M
Previous year: 25.5M
+5.1%
Gross Profit
$12.6B
Previous year: $13.4B
-6.1%
Cash and Equivalents
$13.1B
Previous year: $14.6B
-10.1%
Free Cash Flow
$4.2B
Previous year: $6.45B
-35.0%
Total Assets
$250B
Previous year: $239B
+4.4%

CVS Health

CVS Health

CVS Health 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

Company Overview

Full financial data and analysis

View CVS Health