Key facts
- CVS Health raised its 2026 adjusted profit per share forecast to $7.90-$8.10.
- The company reported adjusted second-quarter profit of $2.58 per share, exceeding estimates.
- CVS's Aetna insurance business reported a medical loss ratio of 87.4%.
- Operating profits in CVS's health services unit increased by 10% to $1.73 billion.
- Quarterly revenue increased to $106.1 billion.
CVS Health raised its annual profit forecast, citing a better-than-expected second quarter driven by a more profitable mix of drugs and bonus payments for its highly rated government health plans. The company's adjusted second-quarter profit of $2.58 per share surpassed analyst estimates of $1.85, marking the sixth consecutive quarterly beat.
CVS's MinuteClinic will now offer $29 appointments for consultations regarding weight-loss drugs, including Novo Nordisk's Wegovy and Eli Lilly's Zepbound and Foundayo. The company's Aetna insurance business reported a medical loss ratio of 87.4%, an improvement from 89.9% a year ago and below the estimated 90.03%.
Operating profits at CVS's health services unit, which includes clinics, rose 10% to $1.73 billion, partly due to operational changes at its Oak Street primary care business. Despite raising its outlook, CVS remains cautious about elevated cost trends and the macroeconomic environment. Quarterly revenue increased to $106.1 billion from $98.9 billion, exceeding expectations of $100.11 billion.