“We expect the elevated levels of utilization will continue to pressure our 2024 performance”

In context

“S Health is made up of three attractive operating segments which are all critical to the healthcare system. Two of those segments continue to perform consistent with our expectations. Our health services segment had another strong quarter while delivering on our commitments to lower drug costs to our clients and members. Our pharmacy and consumer wellness business continues to be the best run national pharmacy in the country, increasing its share of scripts filled and delivering important community health access across the nation. Results in our healthcare benefits business remain challenged as a result of continued elevated levels of utilization. While we are clearly underperforming at HCB today, this business has incredible earnings potential and is an essential element to our strategy. We expect the elevated levels of utilization will continue to pressure our 2024 performance and as a result, we are not providing a formal outlook today, although Tom will provide some comments on what we may expect directionally. I appreciate and understand your desire for us to provide guidance at this stage. Establishing credibility and earning your trust is one of my top priorities as the new leader of CVS Health. I recognize that in order to achieve that, any guidance we provide should be achievable with clear opportunities for outperformance. This must be a core principal, and in order to deliver on that commitment to you, I want to spend more time understanding the complexities and challenges facing our Aetna business and will provide an update when appropriate. There are clearly both macro and company-specific factors driving the challenges within our Aetna business. The”