CVS Health Q1 revenue up 11% to $85.3B; EPS falls; guidance cut; closes Signify & Oak Street

CVS HEALTH Corp

2023-Q1 EPS reported $1.65 revenue$85,278,000,000

Total revenues $85.3B (+11% YoY); GAAP diluted EPS $1.65 (down from $1.77); Adjusted EPS $2.20 (down from $2.30).
Full-year GAAP EPS guidance cut to $6.90-$7.12 from $7.73-$7.93; Adjusted EPS cut to $8.50-$8.70 from $8.70-$8.90.
Completed Signify Health acquisition ($7.8B) on Mar 29 and Oak Street Health ($10.6B) on May 2; total ~$18.4B.
Cash flow from operations $7.4B in Q1; reaffirmed full-year CF guidance $12.5-$13.5B.
Returned $779M to shareholders via dividends and repurchased 22.8M shares.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

CVS HEALTH Corp reported three months ended March 31, 2023 results: revenue $85,278. Guidance lowered.

Period: three months ended March 31, 2023
Revenue: $85,278
Guidance: lowered
Result: reported results

Exact text from the filing

Adjusted EPS of $2.20 • Generated cash flow from operations of $7.4 billion Three Months Ended March 31, In millions, except per share amounts 2023 2022 Change Total revenues $ 85,278 $ 76,826 $ 8,452 Operating income 3,446 3,545 (99) Adjusted operating income (1) 4,370 4,607 (237) Diluted earnings per share $ 1.65 $ 1.77 $ (0.12) Adjusted EPS (2) $ 2.20 $ 2.30

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Source: SEC EDGAR

accession 0000064803-23-000015

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