CVS Health二季度业绩超预期并上调2026年全年EPS与经营现金流指引

CVS Heath Crop. (CVS) reported financial results for the second quarter ended June 30, 2026, showing solid revenue growth and improved earnings compared to the prior year. The company also raised its full-year guidance, reflecting stronger performance across its operating segments.
Second Quarter 2026 Results
Total revenue for Q2 2026 rose to $106.1 billion, up 7.3% from $98.9 billion in Q2 2025.
Operating income nearly doubled to $4.7 billion, compared to $2.4 billion a year earlier, aided by the absence of prior-year litigation charges.
Net income increased to $3.0 billion, up from $1.0 billion in Q2 2025.
GAAP diluted EPS was $2.31, compared to $0.80 in the prior year quarter. Adjusted EPS rose to $2.58, up from $1.81 in Q2 2025, driven by improved operating performance in the Health Care Benefits segment.
Segment Performance
Health Care Benefits: Revenue grew to $37.5 billion, up 3.5% from $36.3 billion in Q2 2025. Adjusted operating income rose 85.5% to $2.4 billion, reflecting stronger government business and margin recovery.
Health Services: Revenue increased to $51.8 billion, up 11.5% from $46.5 billion a year earlier. Adjusted operating income rose 10% to $1.7 billion, supported by improved purchasing economics and pharmacy mix.
Pharmacy & Consumer Wellness: Revenue edged up to $33.8 billion, compared to $33.6 billion in Q2 2025. Adjusted operating income rose 10.2% to $1.5 billion, aided by prescription volume growth and contributions from Rite Aid acquisitions.
First Half 2026 Results
For the first six months of 2026, total revenue reached $206.5 billion, up from $193.5 billion in the first half of 2025.
Net income rose to $5.9 billion, compared to $2.8 billion a year earlier.
Adjusted EPS for the first half was $5.16, up from $4.06 in H1 2025.
Outlook
For the first six months of 2026, total revenue reached $206.5 billion, up from $193.5 billion in the first half was $5.16, up from $4.06 in H1 2025.
CVS Health raised its full-year 2026 guidance:
GAAP diluted EPS: $6.84- $7.04, up from $6.24- $6.44 previously, compared with $1.39 in FY2025.
Adjusted EPS: $7.90-$8.10, up from $7.30-$7.50, compared with $6.75 from FY 2025.
Cash flow from operations: at least $11.5 billion, up from at least $9.5 billion.
Operational Updates
The company expanded GLP-1 support programs across CVS Pharmacy and MinuteClinic, introduced a $29 virtual visit option, and joined the CMS Medicare GLP-1 Bridge program to improve affordability. CVS also deployed AI-powered tools to streamline claims processing and enhance customer engagement.
CVS Health closed Q2 2026, with strong momentum, supported by revenue growth across all segments, improved profitability, and expanded healthcare offerings, positioning the company for continued performance through the remainder of the year.
CVS has traded between $62.52 and $110.68 over the past year. The stock is currently trading at $98.46, down 5.72%.
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Business News
August 01, 2026 02:10 ET Major central banks, led by the U.S. Federal Reserve, and preliminary estimates of second quarter economic growth dominated the economics news flow this week. In the U.S., the Federal Reserve announced its latest policy decision and early estimates of second quarter growth and monthly inflation data were also released. In Europe, the interest rate decision from the Bank of England was in focus. Similarly, the Bank of Japan was in the limelight in Asia for its policy announcement.