Overview
- CVS reported Wednesday an adjusted EPS of $2.57 on revenue of $100.4 billion, beating estimates and raising 2026 guidance to $7.30–$7.50 per share with revenue of at least $405 billion.
- Aetna’s medical benefit ratio fell to 84.6% from 87.3%, meaning the insurer kept more of each premium dollar after paying medical claims.
- The health services unit that includes Caremark grew revenue 11% on a more profitable drug mix, while pharmacy and consumer wellness sales were flat and retail operating income fell 8.8%.
- Shares rose about 5% in premarket trading after the results, marking the fifth straight quarter that CVS outperformed Wall Street forecasts.
- Executives warned that a 2.48% Medicare Advantage payment increase for 2027 may trail cost growth and that PBM oversight remains active, which could lead to pricing or benefit changes for some members.