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CLAIM #18560 · CVS Health Corp (CVS) · 2025Q2 earnings call · Aug 6, 2025 · due Dec 31, 2025

Altogether, we now expect full year enterprise adjusted operating income to be in a range of $13.77 billion to $13.94 billion.

Brian O. Newman · CFO

PENDING
graded after results covering Dec 31, 2025 are reported

In context

th care delivery business as a result of a higher medical benefit ratio at Oak Street. Our clients continue to see the tremendous value proposition of our pharmacy services businesses, including Caremark. The outlook for our Pharmacy Services business within our Health Services segment remains unchanged. Finally, in our Pharmacy and Consumer Wellness segment, we now expect full year adjusted operating income of at least $5.68 billion, an increase of approximately $200 million from our prior guidance. This increase reflects our strong first half performance while continuing to maintain our prudent outlook for potential changes in vaccine market demand and the consumer environment. We are pleased with our transition to CVS CostVantage, which continues to track in line with our expectations. Altogether, we now expect full year enterprise adjusted operating income to be in a range of $13.77 billion to $13.94 billion. We're also revising our expectations for full year cash flow from operations to at least $7.5 billion. You can find additional details on the components of our 2025 guidance on our Investor Relations website. Overall, we are encouraged by our performance, for another consecutive quarter, we're delivering on our commitments and continue to demonstrate clear progress on our path to achieving the embedded earnings power of CVS Health. I'm confident we will continue building on our momentum as we will aspire to become America's most trusted health care company while simultaneously generating value for you, our shareholders. With that, we will now open the call to your questions. Operator? Operator: [Operator Instructions] Our first question will come from Lisa Gill with JPMorgan. Lisa Christi

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SEC filings for CVS · Claim quote is verbatim from the 2025Q2 earnings call.