Global Finance News
11 Feb 2026, 04:40
CVS Health Corporation reported solid revenue growth for the fourth quarter and full year 2025, alongside reaffirmed earnings guidance for 2026.
In the fourth quarter, total revenues rose 8.2% year-over-year to $105.7 billion. GAAP diluted EPS was $2.30, while adjusted EPS came in at $1.09.
For the full year 2025, revenues reached a record $402.1 billion, up 7.8% from the prior year. GAAP diluted EPS totaled $1.39, and adjusted EPS was $6.75. The company generated $10.6 billion in cash flow from operations during the year.
Operationally, CVS Pharmacy completed its transition to cost-based reimbursement across its Commercial, Third-Party Discount, Medicare and Medicaid businesses. Aetna improved prior authorization performance, approving more than 95% of eligible requests within 24 hours. Caremark ended 2025 with strong customer retention and new client wins, positioning the segment for momentum into 2026.
For 2026, CVS confirmed GAAP diluted EPS guidance of $5.94 to $6.14 and adjusted EPS guidance of $7.00 to $7.20. However, it lowered its cash flow from operations outlook to at least $9.0 billion, from a prior expectation of at least $10.0 billion.
CEO commentary emphasized ongoing transformation efforts across the company’s integrated health care platform, highlighting initiatives to lower drug prices, streamline care navigation and strengthen CVS’s role as a primary access point for health services in the U.S.
Source: CVS Health press release
In the fourth quarter, total revenues rose 8.2% year-over-year to $105.7 billion. GAAP diluted EPS was $2.30, while adjusted EPS came in at $1.09.
For the full year 2025, revenues reached a record $402.1 billion, up 7.8% from the prior year. GAAP diluted EPS totaled $1.39, and adjusted EPS was $6.75. The company generated $10.6 billion in cash flow from operations during the year.
Operationally, CVS Pharmacy completed its transition to cost-based reimbursement across its Commercial, Third-Party Discount, Medicare and Medicaid businesses. Aetna improved prior authorization performance, approving more than 95% of eligible requests within 24 hours. Caremark ended 2025 with strong customer retention and new client wins, positioning the segment for momentum into 2026.
For 2026, CVS confirmed GAAP diluted EPS guidance of $5.94 to $6.14 and adjusted EPS guidance of $7.00 to $7.20. However, it lowered its cash flow from operations outlook to at least $9.0 billion, from a prior expectation of at least $10.0 billion.
CEO commentary emphasized ongoing transformation efforts across the company’s integrated health care platform, highlighting initiatives to lower drug prices, streamline care navigation and strengthen CVS’s role as a primary access point for health services in the U.S.
Source: CVS Health press release