CVS Health Corp (CVS)
NYSE:CVS
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Earnings Data
Report Date
Aug 05, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
1.83Last Year’s EPS
1.81Same Quarter Last Year
Strong Buy
Based on 18 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a generally positive tone driven by clear top-line growth, strong cash generation, profit and EPS beats, an upward revision to full-year EPS guidance, meaningful improvement at Aetna (material AOI gain and operational efficiencies), and ongoing technology/AI initiatives (Health100). Offsetting risks include segment-level profit declines (Health Services and PCW), membership impacts from the Individual Exchange exit, continued elevated medical cost trends, PBM rebate pressures and regulatory/state-level uncertainty. On balance, the favorable operating metrics, raised guidance, and credible path to margin recovery outweighed the identifiable challenges.Company Guidance
Top-Line Revenue Growth
Enterprise revenue of over $100 billion in Q1 2026, up more than 6% year-over-year, driven by growth across all operating segments; full-year revenue now expected to be at least $405 billion.
Adjusted Operating Income and EPS Strength
Delivered adjusted operating income of approximately $5.2 billion (Q1) — up over 12% year-over-year — and adjusted EPS of $2.57, a rise of more than 14% versus the prior-year quarter; raised full-year adjusted EPS guidance to $7.30–$7.50 (up ~$0.30, >4% from prior range).
Improved Cash Generation and Balance Sheet Progress
Generated approximately $4.2 billion of cash flow from operations in Q1, updated full-year cash flow from operations guidance to at least $9.5 billion, returned nearly $850 million to shareholders as dividends, and improved net leverage to 3.84x at quarter end.
Aetna Margin Recovery and Operational Wins
Health Care Benefits adjusted operating income of approximately $3.0 billion in Q1 with a medical benefit ratio (MBR) of 84.6% (substantial improvement versus prior year); management reported over $1 billion of year-over-year AOI improvement at Aetna and confidence in returning to target margins by 2028.
Health Services Revenue Growth
Health Services (Caremark/PBM) revenue exceeded $48 billion in Q1, up about 11% year-over-year, reflecting pharmacy drug mix and brand inflation and demonstrating underlying top-line strength despite client price actions.
Retail Pharmacy Same-Store and Script Momentum
Pharmacy & Consumer Wellness generated nearly $32 billion in revenue (roughly flat year-over-year); same-store total revenues grew ~3%, same-store prescription volumes nearly +7%, same-store front store sales up ~120 basis points, and retail pharmacy script share rose to over 29% versus prior year.
Operational and Customer Experience Improvements
Aetna approved over 95% of eligible prior authorizations within 24 hours (over 80% in real time), standardized 88% of procedures (ahead of industry target), and is collaborating to standardize >50% of PA volume industry-wide by year-end — reducing friction for providers and members.
Product and Access Initiatives
Announced patient access actions: $25/month insulin availability across a network of 60,000+ pharmacies (including ~9,000 CVS stores), and a July 1, 2026 plan to exclude branded STELARA in favor of biosimilars with expected high conversion rates and majority $0 out-of-pocket for customers.
Technology and AI Investments / New Platform
Reiterated technology/AI as strategic priority: launching Health100 (AI-native consumer engagement platform) later in 2026, ongoing enterprise AI deployments, AI academy for colleagues, and continued investments intended to improve consumer experience, engagement and cost outcomes.
Health Care Delivery and Oak Street Performance
Health Care Delivery revenues grew over 15% year-over-year, primarily driven by Oak Street Health; management reported Oak Street performance as improving and broadly in line with expectations following prior-year reset actions.
CVS Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
CVS Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 06, 2026 | $80.69 | $86.86 | +7.65% |
Feb 10, 2026 | $75.11 | $75.04 | -0.09% |
Oct 29, 2025 | $80.82 | $79.25 | -1.95% |
Jul 31, 2025 | $60.76 | $60.56 | -0.32% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does CVS Health Corp (CVS) report earnings?
CVS Health Corp (CVS) is schdueled to report earning on Aug 05, 2026, Before Open (Confirmed).
What is CVS Health Corp (CVS) earnings time?
CVS Health Corp (CVS) earnings time is at Aug 05, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CVS EPS forecast?
CVS EPS forecast for the fiscal quarter 2026 (Q2) is 1.83.
