Cvs Health Corporation · NYSE:CVS
Cvs Health — Q4 2023 Earnings Presentation
12 slides from Cvs Health's earnings presentation, Feb 7, 2024
Slide 1: Fourth quarter 2023 Earnings conference call
Fourth quarter 2023 Earnings conference call Karen S. Lynch Thomas F. Cowhey President and Executive Vice President and Chief Executive Officer Chief Financial Officer February 7, 2024
Slide 2: 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, all forward-looking statements are not guarantees of futu
Slide 3: Financial highlights
Financial highlights Delivered strong revenue growth of 11.9% and adjusted EPS of $2.12 in the fourth quarter of 2023. Revised 2024 adjusted EPS guidance to at least $8.30, reflecting higher Medicare Advantage utilization. DELIVERED STRONG GENERATING FULL-YEAR 2024 Q4 Financial Results Shareholder V
Slide 4: Our vision
Become the leading health solutions company for consumers Our vision Drive improved health Deliver a superior outcomes, lower costs, health care experience higher levels of for consumers engagement and broader access to high quality care 4 ©2024 CVS Health and/or one of its affiliates.
Slide 5: Our strategic imperatives
Build Grow diverse national care our core business delivery and value-based care capabilities Our strategic Create Enable imperatives consumers’ health with care and coverage seamless engagement and personalized capabilities across local experiences across all points of care company assets Empower o
Slide 6: Full-year results
Consolidated results in billions, except per share Q4 2022 amounts Q4 2023 Change % Business highlights (revised) 1 Total Revenues $93.8 $83.8 11.9% Unveiled new CVS CostVantage™ model Quarter results Adjusted Operating Income $4.23 $4.08 3.6% in our Pharmacy and Consumer Wellness segment. This mode
Slide 7: Full-year guidance
2024 consolidated guidance in billions, except per share Q4 2023 call Investor Day amounts and tax rate February 7, 2024 December 5, 2023 Business highlights Total Revenues At least $371.3 At least $366.0 Revised full-year 2024 adjusted EPS guidance to at least $8.30, Adjusted Operating Income At le
Slide 8: Health care benefits
Health care benefits in billions, except MBR Q4 2022 and membership Q4 2023 Change % Business highlights (revised) 1 Total Revenues $26.7 $23.0 16.1% Increase in membership reflects broad based growth in our Individual Adjusted Operating Income $0.68 $0.91 (26.0%) Exchange, Medicare and Commercial Q
Slide 9: Health services
Health services Q4 2022 in billions, except pharmacy claims Q4 2023 Change % Business highlights (revised) 1 Total Revenues $49.1 $43.8 12.3% Health Services results driven by Quarter results continued strong performance Adjusted Operating Income $1.86 $1.79 4.2% and exceptional execution in our Pha
Slide 10: Pharmacy & consumer wellness
Pharmacy & consumer wellness in billions, except prescriptions Q4 2022 filled Q4 2023 Change % Business highlights (revised) 1 Total Revenues $31.2 $28.7 8.6% Quarter results We continued to play an important role in providing access to critical Adjusted Operating Income $2.03 $1.85 9.7% immunizatio
Slide 11: Pharmacy & Front store
Pharmacy & 11.3% 15.5% Front store Same store growth Total sales 3 Pharmacy sales 3 In a dynamic environment, (3.1%) 4.4% Front store sales 3 Pharmacy demonstrated significant prescription year-over-year growth in volume 2,3 total sales 11 ©2024 CVS Health and/or one of its affiliates.
Slide 12: Footnotes
1. Previously reported Q4 2022 and FY 2022 results have been revised to reflect our new segment structure, the adoption of a new long-duration accounting standard and a change in our reporting convention to exclude net realized capital gains and losses from adjusted operating income as described in