CVS Health delivered strong financial results in Q1 2025 and increased its full-year EPS guidance, reflecting solid performance across all segments. The company is leading in market innovation with expanded access to GLP-1 medications and growth in pharmacy market share. However, challenges persist in individual exchange products, legislative impacts in Arkansas, and elevated medical cost trends. The overall sentiment is cautiously optimistic with strong highlights, but significant lowlights remain.

Company Guidance

During the CVS Health Q1 2025 earnings call, the company reported a strong financial performance, with first quarter adjusted earnings per share (EPS) of $2.25 and adjusted operating income of $4.6 billion. CVS Health increased its full-year 2025 adjusted EPS guidance to a range of $6 to $6.20, up from the previous range of $5.75 to $6. The company generated nearly $95 billion in revenue, a 7% increase year-over-year, driven by growth across all segments. The healthcare benefits segment generated nearly $35 billion in revenue, an 8% increase, while the health services segment saw revenues of over $43 billion, reflecting an 8% growth. The pharmacy and consumer wellness segment recorded nearly $32 billion in revenues, an 11% increase compared to the prior year. CVS also processed and dispensed over 1.7 billion prescriptions annually, with a 7% increase in same-store prescription volumes. However, the company is exiting the individual exchange business in 2026, projecting variable losses of $350 million to $400 million for 2025. CVS Health remains committed to innovation and improving healthcare access and affordability through strategic partnerships and digital solutions.

Strong Financial Performance in Q1 2025

CVS Health reported first quarter adjusted earnings per share of $2.25 and adjusted operating income of $4.6 billion. Revenue for the quarter was nearly $95 billion, marking a 7% increase over the prior year.

Increased Full Year 2025 EPS Guidance

The company raised its full year 2025 adjusted EPS guidance to a range of $6 to $6.20, up from the previous range of $5.75 to $6, reflecting solid performance and execution across all business segments.

Expansion in GLP-1 Access

CVS announced a partnership with Novo Nordisk to increase access to Wegovy for members at a more affordable price, demonstrating the value of its integrated model and continuing leadership in market innovation.

Pharmacy Market Share Growth

Retail pharmacy script share in Q1 grew to approximately 27.6%, an increase of approximately 70 basis points from the same period last year, driven by strong execution and superior customer experiences.

Successful Leadership Transition

The appointments of Brian Newman as Chief Financial Officer and Amy Compton-Phillips as Chief Medical Officer are expected to support continued momentum and strategic execution.

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CVS Health (CVS) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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CVS Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 18, 2026	2025 (Q4)	- / -	1.19	―	―	―
Oct 29, 2025	2025 (Q3)	- / -	1.09	―	―	―
Jul 30, 2025	2025 (Q2)	1.51 / -	1.83	―	―	―
May 01, 2025	2025 (Q1)	1.70 / 2.25	1.31	71.76% (+0.94)
Feb 12, 2025	2024 (Q4)	0.91 / 1.19	2.12	-43.87% (-0.93)
Nov 06, 2024	2024 (Q3)	1.44 / 1.09	2.21	-50.68% (-1.12)
Aug 07, 2024	2024 (Q2)	1.74 / 1.83	2.21	-17.19% (-0.38)
May 01, 2024	2024 (Q1)	1.70 / 1.31	2.2	-40.45% (-0.89)
Feb 07, 2024	2023 (Q4)	1.99 / 2.12	1.99	6.53% (+0.13)
Nov 01, 2023	2023 (Q3)	2.13 / 2.21	2.09	5.74% (+0.12)

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

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CVS Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
May 01, 2025	$66.71	$69.45	+4.11%
Feb 12, 2025	$54.44	$62.57	+14.93%
Nov 06, 2024	$54.09	$60.22	+11.33%
Aug 07, 2024	$56.39	$54.58	-3.21%

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.

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