Gains in the Pharmacy & Consumer Wellness business helped propel CVS Health Corp. to a better-than-expected second-quarter sales and profits.
Company net income was $2.98 billion, or $2.31 per diluted share, versus $1.02 billion, or 80 cents per diluted share, in the quarter a year before. Adjusted for one-time events, company net income was $3.32 billion, or $2.58 per diluted share, versus $2.3 billion, or $1.81 per diluted share, in the year-previous period, the company pointed out.
An analyst consensus estimate published by Zacks Investment Research called for earnings per adjusted diluted share of $1.87 and revenues of $100.18 billion.
Total revenues were $106.1 billion and product revenues were $66.22 billion versus $98.92 billion and $60.61 billion, respectively, in the year-prior quarter. Operating income was $4.7 billion versus $2.38 billion in the year-earlier period, while adjusted operating income was $5.16 billion versus $3.81 billion.
In the retail segment of the business, CVS Pharmacy & Consumer Wellness, total revenues were $33.82 billion versus $33.58 billion and adjusted operating income was $1.48 billion versus $1.34 billion in the year-past quarter.
Comparable sales increased by 2.6% year over year, with front store comps, including that from general merchandise, up 1%.
Among the highlights of the quarter, CVS initiated deployment of agentic AI to simplify and streamline call center interactions for members and providers engaging with the Aetna and CVS Caremark businesses, the company pointed out.
CVS raised its full-year 2026 guidance, with diluted EPS outlook now at $6.84 to $7.04, up from $6.24 to $6.44, and adjusted EPS outlook now at $7.90 to $8.10, up from $7.30 to $7.50.
In announcing the financial results, David Joyner, CVS chairman and CEO, said, “Our CVS Health colleagues build trust every day in communities across our country by making healthcare easier for millions of customers, patients and members. As our businesses work together to deliver a technology-powered care engagement experience, we continue to deliver strong performance. We uniquely enable what our customers want the most: simple, connected and convenient access to affordable, quality healthcare, where, when, and how they want it.”
