CVS Health to reaffirm FY23, FY24 EPS guidance at investor meeting

CVS disclosed in a filing that on January 8, members of the senior management team of CVS Health Corporation will meet with investors, and the senior management team will reaffirm the company’s previously announced FY23 GAAP diluted EPS guidance range of $6.37-$6.61 and its FY23 adjusted EPS guidance range of $8.50-$8.70. The company expects its FY23 adjusted EPS to be in the upper half of the guidance range. FY23 EPS consensus is $8.59. In addition, the company will reaffirm its FY23 cash flow from operations guidance at the upper end of its $12.5B to $13.5B guidance range. The company will reaffirm its previously announced FY24 GAAP diluted EPS guidance of at least $7.26, its FY24 adjusted EPS guidance of at least $8.50 and its FY24 cash flow from operations guidance of at least $12.5B. FY24 EPS consensus is $8.52. The company expects its total Medicare Advantage membership to grow by at least 800,000 in 2024. During the annual enrollment period for 2024, its Individual MA and dual eligible special needs enrollment exceeded its expectations. The stronger than expected 2024 MA enrollment is driven by factors including strong new sales and retention of existing Aetna MA members, with a higher than historical proportion of new sales coming from competitor MA plans.