Cvs Health Corporation · NYSE:CVS
Cvs Health — Q3 2025 Earnings Presentation
12 slides from Cvs Health's earnings presentation, Oct 29, 2025
Slide 1: Third Quarter 2025 Earnings Conference Call
Third Quarter 2025 October 29, 2025 Earnings Conference Call J. David Joyner Brian O. Newman President and Executive Vice President and Chief Executive Officer Chief Financial Officer 1 ©2025 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: Enterprise Highlights
Enterprise Highlights Delivered consolidated revenue growth of 7.8% and adjusted EPS of $1.60 in the third quarter of 2025. Raised 2025 adjusted EPS guidance to a range of $6.55 to $6.65, powered by our diversified Enterprise. Delivering better experiences that Third Quarter Full Year 2025 Build Tru
Slide 4: To be America's most trusted health care company
OUR AMBITION To be America’s most trusted health care company 4 ©2025 CVS Health and/or one of its affiliates. Confidential and proprietary.
Slide 5: Strategic Imperatives
Strategic Imperatives Drive sustainable growth in our core businesses Deliver enterprise value across our assets Engage patients and consumers through personalized experiences Transform business operations with technology- enabled capabilities Invest in our colleagues and strengthen our culture 5 ©2
Slide 6: Consolidated Results
Consolidated Results Quarter Results 3Q 2025 3Q 2024 In billions, except per share amounts Business highlights Total Revenues $102.9 $95.4 Reported a third consecutive quarter of solid results driven by the strength of our diversified businesses. We are Adjusted Operating Income $3.46 $2.55 continui
Slide 7: Consolidated Guidance
Consolidated Guidance Full Year Guidance Full Year 2025 Full Year 2025 In billions, except per share amounts and tax rate as of October 29, 2025 as of July 31, 2025 Business highlights Total Revenues At least $397.3 At least $391.5 Raised 2025 adjusted EPS guidance to a range of $6.55 to $6.65, powe
Slide 8: Superior assets. Superior care. Superior value.
Superior assets. Superior care. Superior value. 8 ©2025 CVS Health and/or one of its affiliates. Confidential and proprietary.
Slide 9: Health Care Benefits
Health Care Benefits Quarter Results 3Q 2025 3Q 2024 Business highlights In billions, except MBR and membership Total Revenues $36.0 $33.0 Third quarter adjusted operating income Adjusted Operating Income $0.31 ($0.92) increased substantially year over year, including strong performance in our Total
Slide 10: Health Services
Health Services Quarter Results 3Q 2025 3Q 2024 Business highlights In billions, except pharmacy claims Total Revenues $49.3 $44.1 Third quarter adjusted operating income decreased 7.0% year over year, driven by continued pharmacy client price improvements, partially offset by Adjusted Operating Inc
Slide 11: Pharmacy & Consumer Wellness
Pharmacy & Consumer Wellness Quarter Results 3Q 2025 3Q 2024 Business highlights In billions, except prescriptions filled Total Revenues $36.2 $32.4 Third quarter adjusted operating income decreased by 7.4% year over year, primarily driven by continued pharmacy reimbursement pressure and increased A
Slide 12: Footnotes
Footnotes Third Quarter 2025 1. Third quarter 2025 GAAP diluted loss per share of $3.13 reflects a $5.7 billion goodwill impairment charge related to the Health Care Delivery reporting unit, partially offset by a gain of $483 million on the deconsolidation of Omnicare, LLC (“Omnicare”) in connection