MAAT INDEX

CLAIM #18397 · CVS Health Corp (CVS) · 2024Q2 earnings call · Aug 7, 2024 · due Dec 31, 2024

We are on track to achieve our three-year goal of closing 900 stores by the end of this year, with 851 stores closed to date.

Karen Lynch · CEO

PENDING
graded after results covering Dec 31, 2024 are reported

In context

retention, both of which are running ahead of where we were at this time last year. Our retention rate is in the high 90s with our national accounts business. In our pharmacy and consumer wellness business, we effectively navigated a changing consumer environment and delivered another strong quarter that exceeded our expectations. We grew revenues for the segment to approximately $30 billion, up nearly 4% versus the prior year, and generated $1.2 billion of adjusted operating income in the quarter. Our growing pharmacy share, now at a record high of approximately 27.2%, was a meaningful contributor to these results. We continue playing a key role in delivering important community health services, as demonstrated by the approximately 2 million immunizations we administered in the quarter. We are on track to achieve our three-year goal of closing 900 stores by the end of this year, with 851 stores closed to date. We continue to exceed our goals for both colleague and script retention. As we look at the standalone stores we have remaining across our national footprint, substantially all are profitable. This measure highlights our leadership in this business and our ability to operate nationally while delivering unmatched levels of consumer service. Our position will only improve as we continue to optimize our footprint and implement innovations like CVS CostVantage. In our health services segment, we generated revenues of more than $42 billion and delivered $1.9 billion in adjusted operating income. Our pharmacy services business, the largest component of the health services segment, delivered strong results driven by the execution on core principles of this business, lowering drug costs and creati

Verify independently

SEC filings for CVS · Claim quote is verbatim from the 2024Q2 earnings call.