Cvs Health Corporation · NYSE:CVS
Cvs Health — Q1 2024 Earnings Presentation
12 slides from Cvs Health's earnings presentation, May 1, 2024
Slide 1: First quarter 2024 earnings conference call
First quarter 2024 May 1, 2024 Earnings conference call Karen S. Lynch Thomas F. Cowhey President and Executive Vice President and Chief Executive Officer Chief Financial Officer 1 ©2024 CVS Health and/or one of its affiliates. Confidential and proprietary.
Slide 2: Cautionary statement concerning forward-looking statements
Cautionary statement concerning forward-looking statements This presentation includes forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made by or on behalf of CVS Health Corporation (“CVS Health”). By their nature,
Slide 3: Financial highlights
Financial highlights Delivered revenue growth of 3.7% and adjusted EPS of $1.31 in the first quarter of 2024. Lowered 2024 adjusted EPS guidance to at least $7.00, primarily due to elevated Medicare utilization. FIRST QUARTER GENERATING FULL-YEAR 2024 Financial Results Shareholder Value Company Guid
Slide 4: Building a world of health around every consumer
OUR VISION Building a world of health around every consumer 4 ©2024 CVS Health and/or one of its affiliates. Confidential and proprietary.
Slide 5: Our Strategic Imperatives
Our Strategic Imperatives Grow Build Enable Create Empower our core business diverse national care consumers’ health seamless engagement our people and delivery and value- with care and and personalized culture based care capabilities coverage capabilities experiences across across local points all
Slide 6: Consolidated Results
Consolidated Results in billions, Business highlights except per share amounts Q1 2024 Q1 2023 Implemented our unique and meaningful formulary change related Total Revenues $88.4 $85.3 to Humira, driving greater adoption of biosimilars and increasing the affordability of critical specialty drugs. Ad
Slide 7: 2024 Consolidated Guidance
2024 Consolidated Guidance in billions, except per share Q1 2024 Q4 2023 Business highlights amounts and tax rate May 1, 2024 February 7, 2024 Revised full-year 2024 adjusted Total Revenues At least $369.0 At least $371.3 EPS guidance to at least $7.00, primarily due to the impact of Adjusted Operat
Slide 8: Superior assets. Superior care. Superior value.
Superior assets. Superior care. Superior value. 8 ©2024 CVS Health and/or one of its affiliates. Confidential and proprietary. ©2024 CVS Health and/or one of its affiliates. Confidential and proprietary. 8
Slide 9: Health care benefits
Health care benefits in billions, except MBR and membership Q1 2024 Q1 2023 Business highlights Total Revenues $32.2 $25.9 Increase of 1.1 million members Adjusted Operating Income $0.73 $1.82 sequentially reflects broad based growth in our Medicare, Individual Quarter Results Total Medical Membersh
Slide 10: Health services
Health services in billions, except pharmacy claims Q1 2024 Q1 2023 Business highlights Quarter Results Total Revenues $40.3 $44.6 Health Services revenue of ~$40 billion was impacted by the previously Adjusted Operating Income $1.36 $1.68 announced loss of a large client and continued pharmacy clie
Slide 11: Pharmacy & consumer wellness
Pharmacy & consumer wellness in billions, except prescriptions filled Q1 2024 Q1 2023 Business highlights Quarter Results Total Revenues $28.7 $27.9 Generated revenue of ~$29 billion, Adjusted Operating Income $1.18 $1.13 reflecting an increase of nearly 3% versus the prior year and over 5%2 on Pres
Slide 12: Footnotes
Footnotes First quarter 2024 1. Includes an adjustment to convert 90-day prescriptions to the equivalent of three 30-day prescriptions. 2. Same store sales and prescription volume represent the change in revenues and prescriptions filled in the Company’s retail pharmacy stores that have been operati