---
schema_version: "secwatch.filing_event.v1"
accession: "0000064803-23-000015"
form_type: "8-K"
ticker: "CVS"
cik: "0000064803"
company_name: "CVS HEALTH Corp"
filed_at: "2023-05-03T23:59:59+00:00"
generated_at: "2026-06-16T01:54:12.291600+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000064803-23-000015
- form_type: 8-K
- ticker: CVS
- cik: 0000064803
- company_name: CVS HEALTH Corp
- filed_at: 2023-05-03T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/64803/000006480323000015/0000064803-23-000015-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/64803/000006480323000015/cvs-20230503.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000064803-23-000015
- JSON: https://secwatch.observer/filing/0000064803-23-000015.json
- Plain text: https://secwatch.observer/filing/0000064803-23-000015.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/64803/000006480323000015/0000064803-23-000015-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.