CVS Q1 2026

Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025

Earnings

CVS Health delivered a strong first quarter of 2026, beating Wall Street expectations on both the top and bottom lines to extend its consensus EPS beat streak to four consecutive quarters. The healthcare giant posted adjusted EPS of $2.57, clearing t… Read more CVS Health delivered a strong first quarter of 2026, beating Wall Street expectations on both the top and bottom lines to extend its consensus EPS beat streak to four consecutive quarters. The healthcare giant posted adjusted EPS of $2.57, clearing the $2.21 consensus estimate by 16.47%, while revenue climbed 6.2% year over year to $100.43 billion, beating expectations of $95.02 billion by 5.69%. The standout driver was a dramatic turnaround in the Health Care Benefits segment, where adjusted operating income surged 52.6% to $3.04 billion as the medical benefit ratio improved to 84.6% from 87.3%, largely because the prior year had been weighed down by a $448 million premium deficiency reserve tied to the individual exchange business CVS has since exited. Analyst commentary in recent weeks had flagged improving Medicare Advantage utilization trends as a sector-wide tailwind, and CVS appeared to benefit from that dynamic. Management raised full-year 2026 adjusted EPS guidance to $7.30-$7.50 and lifted cash flow from operations guidance to at least $9.50 billion, while cautioning that elevated cost trends and potential macro headwinds warrant a measured outlook for the remainder of the year.