Summary by Moomoo AI
CVS Health reported strong Q3 2023 results, with total revenues up 10.6% YoY to $89.8B and adjusted EPS of $2.21, beating expectations. The company raised its full-year 2023 GAAP EPS guidance to $6.37-$6.61 and adjusted EPS guidance to $8.50-$8.70.Health Services segment revenues grew 8.4% YoY to $46.9B, driven by pharmacy claims growth and brand inflation. Health Care Benefits segment revenues increased 16.9% YoY to $26.3B, reflecting Medicare and Medicaid membership growth. Pharmacy & Consumer Wellness segment revenues rose 6.6% YoY to $28.9B.CVS Health reaffirmed its commitment to its strategy and long-term growth targets. The company expects to deliver low double-digit adjusted EPS growth in 2024 and beyond, driven by core business growth and strategic initiatives.
