WOONSOCKET (dpa-AFX) - CVS Health Corp. (CVS) reported Wednesday a profit in its third quarter, compared to prior year's loss, mainly on the absence of prior year's $5.7 billion goodwill impairment charge, and higher revenues. Further, the firm revised fiscal 2026 outlook.
In pre-market activity on the NYSE, the shares were trading 1.77 percent lower at $89.85.
In the third quarter, net income attributable to CVS Health was $2.172 billion, compared to prior year's loss of $3.975 billion. Earnings per share were $1.68, compared to loss of $3.13 last year.
The improved result reflects the absence of a $5.7 billion goodwill impairment charge recorded in the third quarter of 2025.
Adjusted earnings per share were $2.09, compared to $1.60 in the prior year, primarily due to improved adjusted operating income in the Health Care Benefits segment, reflecting continued execution of its margin recovery plan.
Third-quarter total revenues increased 5.4 percent to $108.399 billion from $102.871 billion a year ago, primarily driven by growth in the Health Services and Health Care Benefits segments.
Further, the firm revised fiscal 2026 outlook to reflect increases in the Health Care Benefits and Pharmacy & Consumer Wellness segments.
For the year, the company now expects earnings per share of at least $6.98, compared to a previous range of $6.84 to $7.04.
Adjusted earnings per share guidance have been revised to at least $8.20 from a range of $7.90 to $8.10 expected earlier.
Revenue is now projected to be at least $420.0 billion.
Cash flow from operations guidance has been increased to at least $15.5 billion from previous view of at least $11.5 billion.
The company maintained a cautious view for the remainder of the year in light of continued elevated cost trends and the potential for macro headwinds.
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