---
schema_version: "secwatch.filing_event.v1"
accession: "0000064803-24-000015"
form_type: "8-K"
ticker: "CVS"
cik: "0000064803"
company_name: "CVS HEALTH Corp"
filed_at: "2024-05-01T23:59:59+00:00"
generated_at: "2026-06-03T03:26:54.101913+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# CVS Health Q1 GAAP EPS $0.88 vs $1.65; FY2024 guidance slashed on Medicare pressure

## Summary
- Q1 revenues rose 3.7% to $88.4B; GAAP diluted EPS $0.88 vs $1.65; adjusted EPS $1.31 vs $2.20.
- Operating income fell to $2.3B from $3.4B; Health Care Benefits segment pressured by Medicare utilization.
- FY2024 guidance cut: GAAP EPS at least $5.64 (from $7.06); Adj EPS at least $7.00 (from $8.30).
- Q1 cash flow from operations $4.9B; FY guidance reduced to at least $10.5B from $12.0B.
- CEO cites Medicare Advantage challenges; expects elevated cost trends to persist through 2024.

## SEC filing metadata
- accession: 0000064803-24-000015
- form_type: 8-K
- ticker: CVS
- cik: 0000064803
- company_name: CVS HEALTH Corp
- filed_at: 2024-05-01T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/64803/000006480324000015/0000064803-24-000015-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/64803/000006480324000015/cvs-20240501.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000064803-24-000015
- JSON: https://secwatch.observer/filing/0000064803-24-000015.json
- Plain text: https://secwatch.observer/filing/0000064803-24-000015.txt

## Key facts
- Earnings Releases
  CVS HEALTH Corp reported full-year 2024 results: EPS Revised GAAP diluted EPS guidance to at least $5.64 from at least $7.06. Guidance lowered.
  - Period: full-year 2024
  - EPS: Revised GAAP diluted EPS guidance to at least $5.64 from at least $7.06
  - Guidance: lowered
  - Result: guidance update
  source text: Revised GAAP diluted EPS guidance to at least $5.64 from at least $7.06
  evidence_url: https://www.sec.gov/Archives/edgar/data/64803/000006480324000015/0000064803-24-000015-index.htm
- Earnings Releases
  CVS HEALTH Corp reported the three months ended March 31, 2024 results: revenue $88,437, EPS $0.88.
  - Period: the three months ended March 31, 2024
  - Revenue: $88,437
  - EPS: $0.88
  - Result: reported results
  source text: results for the three months ended March 31, 2024. Financial Results Summary Three Months Ended March 31, In millions, except per share amounts 2024 2023 Change Total revenues $ 88,437 $ 85,278 $ 3,159 Operating income 2,271 3,446 (1,175) Adjusted operating income (1) 2,957 4,370 (1,413) Diluted earnings per share $ 0.88 $ 1.65 $ (0.77) Adjusted EPS (2) $ 1.31 $
  evidence_url: https://www.sec.gov/Archives/edgar/data/64803/000006480324000015/0000064803-24-000015-index.htm

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