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Jun 30, 2024
CVS Health Q2 2024 Earnings Report
Reported an increase in total revenues but a decrease in operating income and adjusted EPS due to challenges in the Health Care Benefits segment.
Key Takeaways
CVS Health reported a 2.6% increase in total revenues for the second quarter of 2024, reaching $91.2 billion. However, GAAP diluted EPS decreased to $1.41, and Adjusted EPS decreased to $1.83, primarily due to declines in the Health Care Benefits segment. The company has revised its full-year 2024 guidance to reflect continued pressure in the Health Care Benefits segment, partially offset by strong performance in the Health Services and Pharmacy & Consumer Wellness segments.
Total revenues increased by 2.6% to $91.2 billion compared to the prior year.
GAAP diluted EPS was $1.41, a decrease from $1.48 in the prior year.
Adjusted EPS was $1.83, a decrease from $2.21 in the prior year.
Revised full-year 2024 guidance reflects challenges in the Health Care Benefits segment.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company revised its full-year 2024 GAAP diluted EPS guidance to a range of $4.95 to $5.20 from at least $5.64 and revised its full-year 2024 Adjusted EPS guidance to a range of $6.40 to $6.65 from at least $7.00. The Company also revised its full-year 2024 cash flow from operations guidance to approximately $9.0 billion from at least $10.5 billion. The Company’s guidance revision reflects continued pressure in the Health Care Benefits segment, partially offset by strong performance in the Health Services and Pharmacy & Consumer Wellness segments.
Positive Outlook
- Strong performance in Health Services segment
- Strong performance in Pharmacy & Consumer Wellness segment
- Focus on innovation to improve patient outcomes
- Acceleration of transparent pharmacy reimbursement models
- Increasing the use of biosimilars
Challenges Ahead
- Continued pressure in the Health Care Benefits segment
- Revised GAAP diluted EPS guidance to a range of $4.95 to $5.20 from at least $5.64
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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