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CLAIM #18125 · CVS Health Corp (CVS) · 2022Q3 earnings call · Nov 2, 2022 · due Dec 31, 2024

That would leave a headwind of about $1 billion or $0.55 a share for 2024.

Shawn Guertin · CFO

PENDING
graded after results covering Dec 31, 2024 are reported

In context

otential impacts from that. But maybe you could just put it in the context of the long-term growth targets in those businesses over the PBM, I think it's mid-single digits and for the healthcare benefits, it's mid- to high. Maybe you could talk about how to view the lens to view 2024 in those businesses with those specific headwinds? Shawn Guertin : Yes. Let me talk about the '24 headwinds a little bit more specifically. We project the combined impact of [stars] (ph) and Centene on 2024 to be approximately $2 billion on an unmitigated basis. My comments today regarding repurchases and achieving our Investor Day commitments, assume that we're successful in mitigating approximately half of this headwind. And that work is in process and underway, but obviously not 100% certain at this stage. That would leave a headwind of about $1 billion or $0.55 a share for 2024. The amount of repurchases required to combat that headwind could be up to $10 billion. But obviously, the actual amount can vary based on assumed share price and the cost of any debt financing. And going to Lisa's question about capacity, this is an amount that we have the cash and balance sheet capacity to handle and stay within our leverage metrics for 2023. Operator: We'll take our next question from Michael Cherny with Bank of America. Michael Cherny : Maybe one just a clarification and then a separate question. With regards to the '23 bridge, can you just let us know in terms of what's preliminarily target on, a, what -- is that $0.50 COVID net headwind, that does include some COVID contribution and then the health care benefits mid- to high single-digit growth. Any way to couch out

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SEC filings for CVS · Claim quote is verbatim from the 2022Q3 earnings call.