CVS Health up on Q2 beat; guidance raise tops estimate

August 5, 2020

CVS Health (CVS) Q2 results:

Revenues: $65,341M (+3.0%); Pharmacy Services: $34,889M (+0.1%); Retail/LTC: $21,662M (+1.0%); Healthcare Benefits: $18,468M (+6.1%).

Net Income: $2,986M (+54.6%); EPS: $2.26 (+51.7%); non-GAAP Net Income: $3,468M (+40.9%); non-GAAP EPS: $2.64 (+39.7%).

CF Ops: $10,424M (+43.1%).

Pharmacy claims processed: 505.4M (+3.4%).

Pharmacy Services Generic dispensing rate of 88.7% vs. 88.5% in Q2 2019.

Retail Prescription volume up 0.6%; Generic dispensing rate 89.1% vs. 89.0% a year ago.

Medical membership 23.6M vs. 22.8M in Q2 2019.

2020 Guidance: EPS: $5.59 – 5.72 from $5.47 – 5.60; non-GAAP EPS: $7.14 – 7.27 from $7.04 – 7.17. The mid-point for analyst estimates is $7.14; cash flow ops: $11.0B – 11.5B from $10.5B – 11.0B.

https://seekingalpha.com/news/3600692-cvs-healthplus-4-on-q2-beat-guidance-raise-tops-estimate