NYSE$CVS

CVS Health Corp · Q1 2020 earnings

Q1 2020 earnings · · Investor relations

Briefing

CVS Health's Q1 2020 earnings were released, showing an increase in total revenues and operating income.

CVS Health reported an 8.3% increase in total revenues to $66.8 billion and a 28.6% increase in GAAP operating income to $3.5 billion. Adjusted EPS was $1.91, and the company generated $3.3 billion in cash flow from operations. 2020 full year EPS guidance remains unchanged.

  • Total revenues increased 8.3% to $66.8 billion
  • GAAP operating income increased 28.6% to $3.5 billion
  • Adjusted EPS of $1.91
  • Cash flow from operations of $3.3 billion

Headline financials

Total Revenue

$66.8B

Previous: $61.6B+8.3%
EPS (adj)

$1.91

Previous: $1.62+17.9%
Total Medical Membership

23.5M

No prior period
Capital Expenditures

-$742M

Previous: -$716M-3.6%
Free Cash Flow

$1.27B

Previous: $711M+77.9%
Net Income

$2.01B

Previous: $1.43B+40.6%
Operating Income

$3.46B

Previous: $2.69B+28.6%
Gross Profit

$26.4B

Previous: $24.4B+8.2%
Cash & Equivalents

$10.1B

Previous: $5.9B+71.0%
Total Assets

$231B

Previous: $220B+4.9%
Stock-Based Comp

$96M

Previous: $114M-15.8%

Revenue & EPS history

CVS Health · Revenue · Quarterly

$66.8B

Q1 2020+8.3%vs Q1 2019
Beat estimate in 16 of 16 quarters(100%)
ActualEstimate

Revenue by segment

CVS Health · $54.2B total across 2 segments · Q1 2020

  • Pharmacy & Consumer Wellness
    $35B+4.2%
  • Health Care Benefits
    $19.2B+7.4%

Forward guidance

While acknowledging the inherent and unprecedented uncertainty surrounding the ongoing COVID-19 pandemic and its impact, the Company’s full year 2020 GAAP diluted EPS guidance range of $5.47 to $5.60, its full year 2020 Adjusted EPS guidance range of $7.04 to $7.17 and its full year 2020 cash flow from operations guidance range of $10.5 billion to $11.0 billion remain unchanged.Given the likelihood of significant variability in the impact of COVID-19 on its financial statement line items (and related ratios), the Company is withdrawing all other previously issued 2020 additional detailed guidance.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2020

Historical avgQ1 2020

+0.1%

Avg return

Earnings day

+1.4%

Avg return

5 days after

+1.3%

Avg return

30 days after

56%

41 / 73 earnings

Positive

+14.9%

Q4 2024

Best reaction

-18.5%

Q1 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-0.2%+14.3%+19.1%
Q4 2025-0.1%+3.6%+0.4%
Q3 2025-1.9%-4.6%-2.2%
Q2 2025-0.3%+1.8%+17.4%
Q1 2025+4.1%-0.7%-4.0%
Q4 2024+14.9%+19.7%+19.4%
Q3 2024+3.1%+0.8%-0.1%
Q2 2024-0.8%-4.3%-1.0%
Q1 2024-18.5%-17.3%-12.0%
Q4 2023+1.8%+4.8%+1.8%
Q3 2023+0.9%+3.0%-0.8%
Q2 2023+0.5%-0.1%-11.2%
Q1 2023-5.5%-4.2%-3.8%
Q4 2022+4.8%+4.5%-10.3%
Q3 2022+3.4%+6.9%+8.4%
Q2 2022+6.8%+7.0%+4.3%
Q1 2022+1.8%+3.0%-1.1%
Q4 2021-5.0%-7.1%-6.6%
Q3 2021+3.7%+2.9%-0.3%
Q2 2021-4.7%-2.8%+4.1%
Q1 2021+6.9%+9.6%+12.1%
Q4 2020-2.0%-5.1%+0.4%
Q3 2020+10.0%+13.2%+21.3%
Q2 2020-1.3%+1.1%-7.3%
Q1 2020+0.4%+4.3%+11.7%
Q4 2019-2.5%-3.4%-19.2%
Q3 2019+6.6%+6.6%+11.9%
Q2 2019+9.2%+8.6%+15.0%
Q1 2019+4.3%+4.1%-3.7%
Q4 2018-10.8%-12.4%-19.8%
Q3 2018+6.9%+8.3%+3.9%
Q2 2018+4.8%+6.2%+18.1%
Q1 2018-8.4%-9.2%-5.8%
Q4 2017-6.7%-5.7%-6.8%
Q3 2017-0.4%+2.5%+3.1%
Q2 2017+0.4%+0.4%+1.6%
Q1 2017-2.8%-1.1%-4.5%
Q4 2016+1.9%+2.1%+4.4%
Q3 2016-8.2%-10.0%-6.3%
Q2 2016+4.2%+4.2%-0.1%
Q1 2016+2.4%
Q4 2015+3.9%
Q3 2015-3.3%
Q2 2015-1.4%
Q1 2015+0.9%
Q4 2014+3.0%
Q3 2014+1.6%
Q2 2014-0.4%
Q1 2014+2.6%
Q4 2013+2.4%
Q3 2013+3.0%
Q2 2013-4.1%
Q1 2013+1.3%
Q4 2012-1.0%
Q3 2012+0.1%
Q2 2012+1.5%
Q1 2012+2.9%
Q4 2011-1.2%
Q3 2011+6.3%
Q2 2011-5.7%
Q1 2011+3.9%
Q4 2010-0.2%
Q4 2007-0.2%
Q3 2010+3.2%
Q2 2010-2.7%
Q1 2009-2.8%
Q1 2010-2.2%
Q4 2009+1.2%
Q3 2008-17.6%
Q3 2009-17.6%
Q4 2008+1.1%
Q2 2008+1.1%
Q2 2009+1.1%

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