Cvs Health Corporation · NYSE:CVS
Cvs Health — Q2 2025 Earnings Presentation
12 slides from Cvs Health's earnings presentation, Jul 31, 2025
Slide 1: Second Quarter 2025 Earnings Conference Call
Second Quarter 2025 July 31, 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 8.4% and adjusted EPS of $1.81 in the second quarter of 2025. Raised 2025 adjusted EPS guidance to a range of $6.30 to $6.40. Delivering better experiences that Second Quarter Full Year 2025 Build Trust Financial Results Company Guidance
Slide 4: Becoming America's most trusted health care company
OUR FOCUS Becoming 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 2Q 2025 2Q 2024 In billions, except per share amounts Business highlights Total Revenues $98.9 $91.2 Reported a second consecutive quarter of solid results driven by the strength of our execution. We are Adjusted Operating Income $3.81 $3.74 continuing to build p
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 July 31, 2025 as of May 1, 2025 Business highlights Total Revenues At least $391.5 At least $382.6 Raised 2025 adjusted EPS guidance to a range of $6.30 to $6.40. Adjusted
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 2Q 2025 2Q 2024 Business highlights In billions, except MBR and membership Total Revenues $36.3 $32.5 Second quarter adjusted operating Adjusted Operating Income $1.31 $0.94 income increased by nearly 40% year over year, driven by the favorable impact Total Medic
Slide 10: Health Services
Health Services Quarter Results 2Q 2025 2Q 2024 Business highlights In billions, except pharmacy claims Total Revenues $46.5 $42.2 Second quarter adjusted operating income decreased ~18% year over year, driven by continued pharmacy client price improvements and the impact of a Adjusted Operating Inc
Slide 11: Pharmacy & Consumer Wellness
Pharmacy & Consumer Wellness Quarter Results 2Q 2025 2Q 2024 Business highlights In billions, except prescriptions filled Total Revenues $33.6 $29.8 Second quarter adjusted operating income increased nearly 8% year over year, primarily driven by increased prescription and front store volume, Adjuste
Slide 12: Footnotes
Footnotes Second Quarter 2025 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 operat