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CVS Health (CVS) Reports Q2 Earnings: What Key Metrics Have to Say
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For the quarter ended June 2023, CVS Health (CVS - Free Report) reported revenue of $88.92 billion, up 10.3% over the same period last year. EPS came in at $2.21, compared to $2.40 in the year-ago quarter.
The reported revenue represents a surprise of +2.52% over the Zacks Consensus Estimate of $86.74 billion. With the consensus EPS estimate being $2.12, the EPS surprise was +4.25%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how CVS Health performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Medical benefit ratio (MBR): 86.2% versus 84.19% estimated by seven analysts on average.
Medical membership - Total: 25634 thousand compared to the 25374.89 thousand average estimate based on six analysts.
Medical membership - Insured-Medicare Supplement: $1.35 billion versus $1.37 billion estimated by five analysts on average.
Medical membership - Medicare Advantage: 3408 thousand versus the five-analyst average estimate of 3421.86 thousand.
Revenue- Health Services Segment - Mail & specialty: $17.23 billion compared to the $17.83 billion average estimate based on six analysts. The reported number represents a change of -4.4% year over year.
Revenue- Health Care Benefits: $26.75 billion versus the five-analyst average estimate of $25.80 billion. The reported number represents a year-over-year change of +17.5%.
Revenue- Health Care Benefits Segment-Net investment income: $205 million versus the five-analyst average estimate of $158.15 million. The reported number represents a year-over-year change of +133%.
Revenue- Pharmacy & Consumer Wellness Segment-Pharmacy: $22.61 billion versus the five-analyst average estimate of $22.10 billion. The reported number represents a year-over-year change of +13%.
Revenue- Pharmacy & Consumer Wellness Segment-Front store: $5.63 billion versus $6.07 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -1.9% change.
Revenue- Pharmacy & Consumer Wellness Segment: $28.78 billion compared to the $29.03 billion average estimate based on five analysts. The reported number represents a change of +9.5% year over year.
Net revenue- Pharmacy service segment: $46.22 billion versus $44.52 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +8% change.
Revenue- Health Care Benefits Segment-Services: $1.45 billion versus the five-analyst average estimate of $1.51 billion. The reported number represents a year-over-year change of +1.7%.
Shares of CVS Health have returned +6% over the past month versus the Zacks S&P 500 composite's +3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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CVS Health (CVS) Reports Q2 Earnings: What Key Metrics Have to Say
For the quarter ended June 2023, CVS Health (CVS - Free Report) reported revenue of $88.92 billion, up 10.3% over the same period last year. EPS came in at $2.21, compared to $2.40 in the year-ago quarter.
The reported revenue represents a surprise of +2.52% over the Zacks Consensus Estimate of $86.74 billion. With the consensus EPS estimate being $2.12, the EPS surprise was +4.25%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how CVS Health performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Medical benefit ratio (MBR): 86.2% versus 84.19% estimated by seven analysts on average.
- Medical membership - Total: 25634 thousand compared to the 25374.89 thousand average estimate based on six analysts.
- Medical membership - Insured-Medicare Supplement: $1.35 billion versus $1.37 billion estimated by five analysts on average.
- Medical membership - Medicare Advantage: 3408 thousand versus the five-analyst average estimate of 3421.86 thousand.
- Revenue- Health Services Segment - Mail & specialty: $17.23 billion compared to the $17.83 billion average estimate based on six analysts. The reported number represents a change of -4.4% year over year.
- Revenue- Health Care Benefits: $26.75 billion versus the five-analyst average estimate of $25.80 billion. The reported number represents a year-over-year change of +17.5%.
- Revenue- Health Care Benefits Segment-Net investment income: $205 million versus the five-analyst average estimate of $158.15 million. The reported number represents a year-over-year change of +133%.
- Revenue- Pharmacy & Consumer Wellness Segment-Pharmacy: $22.61 billion versus the five-analyst average estimate of $22.10 billion. The reported number represents a year-over-year change of +13%.
- Revenue- Pharmacy & Consumer Wellness Segment-Front store: $5.63 billion versus $6.07 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -1.9% change.
- Revenue- Pharmacy & Consumer Wellness Segment: $28.78 billion compared to the $29.03 billion average estimate based on five analysts. The reported number represents a change of +9.5% year over year.
- Net revenue- Pharmacy service segment: $46.22 billion versus $44.52 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +8% change.
- Revenue- Health Care Benefits Segment-Services: $1.45 billion versus the five-analyst average estimate of $1.51 billion. The reported number represents a year-over-year change of +1.7%.
View all Key Company Metrics for CVS Health here>>>Shares of CVS Health have returned +6% over the past month versus the Zacks S&P 500 composite's +3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.