CVS Health Q2 adj EPS $1.83 vs $2.21 YoY; cuts FY2024 adj EPS guidance to $6.40-$6.65

CVS HEALTH Corp

2024-Q2 EPS reported $2.28 revenue$179,671,000,000

Total revenues $91.2B, up 2.6% YoY; GAAP diluted EPS $1.41 vs $1.48, Adjusted EPS $1.83 vs $2.21.
Operating income $3.045B vs $3.234B; adjusted operating income $3.744B vs $4.481B, driven by Health Care Benefits segment pressure.
FY2024 GAAP EPS guidance lowered to $4.95-$5.20 from at least $5.64; cash flow from ops guided to ~$9B from at least $10.5B.
Health Care Benefits segment faces continued utilization pressure and unfavorable Medicare Advantage star ratings impact.
CEO announces leadership changes in Health Care Benefits segment; strong performance in Health Services and Pharmacy & Consumer Wellness.

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