The earnings call reflects a challenging environment with significant issues in the Health Care Benefits segment, including elevated utilization and mispricing in Medicare and individual exchange products. However, there are strong performances in the Pharmacy and Consumer Wellness, Health Services, and Health Care Delivery segments, driving optimism for future growth.

Company Guidance

During the CVS Health Third Quarter 2024 Earnings Call, the executives provided a comprehensive overview of the company's financial and operational performance. CVS Health reported adjusted earnings per share of $1.09 and total revenues exceeding $95 billion. The company's Health Services segment showed strong performance, while the Pharmacy and Consumer Wellness segment achieved a record-high retail pharmacy script share of 27.3%. However, the Health Care Benefits segment faced challenges due to elevated utilization levels, with a medical benefit ratio of 95.2% and premium deficiency reserves of approximately $1.1 billion impacting results. Despite these challenges, CVS Health's leadership expressed confidence in the long-term prospects of its Aetna business, highlighting strategic benefit design and pricing changes aimed at driving a multi-year earnings recovery. Additionally, the company is not providing a formal outlook for 2024 but anticipates improved financial performance in 2025 due to strategic actions taken across its businesses.

Record Revenue Growth

Third quarter revenues were approximately $95.4 billion, an increase of approximately 6% over the prior year quarter.

Pharmacy and Consumer Wellness Success

The segment achieved a record high retail pharmacy script share at 27.3% and increased revenue by over 12% versus the prior year.

Biosimilar Strategy Success

CVS Health's integrated biosimilar approach drove down commercial specialty trend to 1.3%, the lowest level in recent history.

Health Services Segment Performance

Adjusted operating income increased 17% from the prior year quarter, driven by improved purchasing economics and growth in specialty pharmacy.

Strong Performance from Health Care Delivery Assets

Signify generated revenue growth of approximately 37%, and Oak Street revenue increased by approximately 36%.

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CVS Health (DE: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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DE:CVS Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 05, 2025	2024 (Q4)	0.96 / -	2.037	―	―	―
Nov 06, 2024	2024 (Q3)	1.38 / 1.05	2.124	-50.68% (-1.08)
Aug 07, 2024	2024 (Q2)	1.67 / 1.76	2.124	-17.19% (-0.37)
May 01, 2024	2024 (Q1)	1.63 / 1.26	2.114	-40.45% (-0.86)
Feb 07, 2024	2023 (Q4)	1.91 / 2.04	1.912	6.53% (+0.12)
Nov 01, 2023	2023 (Q3)	2.05 / 2.12	2.009	5.74% (+0.12)
Aug 02, 2023	2023 (Q2)	2.03 / 2.12	2.307	-7.92% (-0.18)
May 03, 2023	2023 (Q1)	2.02 / 2.11	2.134	-0.90% (-0.02)
Feb 08, 2023	2022 (Q4)	1.85 / 1.91	1.903	0.51% (<+0.01)
Nov 02, 2022	2022 (Q3)	1.92 / 2.01	1.893	6.09% (+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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DE:CVS Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 06, 2024	€50.38	€57.10	+13.34%
Aug 07, 2024	€51.91	€52.68	+1.49%
Feb 07, 2024	€66.06	€68.56	+3.78%
Nov 01, 2023	€62.09	€61.70	-0.62%

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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