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Cvs Health Corp (CVS) SEC Filing 10-Q Quarterly report for the period ending Sunday, March 31, 2019

Cvs Health Corp

CIK: 64803 Ticker: CVS



Exhibit 99.1
 
 
 
 
Investor
Joe Krocheski
Media
T.J. Crawford
Contact:
Vice President
Contact:
Vice President
 
Investor Relations
 
External Affairs
 
(860) 273-0896
 
(212) 457-0583

FOR IMMEDIATE RELEASE

CVS HEALTH REPORTS FIRST QUARTER RESULTS

2019 EPS GUIDANCE RAISED AND NARROWED
TO REFLECT STRONG PERFORMANCE YEAR-TO-DATE


First Quarter Year-over-Year Highlights:
Revenues increased 34.8% to $61.6 billion
GAAP operating income increased 34.8% to $2.7 billion
Adjusted operating income increased 56.8% to $3.6 billion
GAAP diluted earnings per share of $1.09
Adjusted EPS (a) of $1.62
Generated cash flow from operations of $1.9 billion

2019 Full Year Guidance:
Revised GAAP operating income guidance range to $11.8 billion to $12.0 billion from $11.7 billion to $12.1 billion
Narrowed and raised the mid-point of the guidance range for adjusted operating income (1) to $15.0 billion to $15.2 billion from $14.8 billion to $15.2 billion
Narrowed GAAP diluted EPS guidance range to $4.90 to $5.05 from $4.88 to $5.08
Raised Adjusted EPS (2) guidance range to $6.75 to $6.90 from $6.68 to $6.88
Confirmed cash flow from operations guidance range of $9.8 billion to $10.3 billion

WOONSOCKET, RHODE ISLAND, May 1, 2019 - CVS Health Corporation (NYSE: CVS) today announced operating results for the three months ended March 31, 2019.

President and Chief Executive Officer Larry Merlo stated, “We generated strong first quarter results, providing positive momentum to start the year. Following the close of our Aetna acquisition in late November, our first full quarter of combined operations was a success in many ways. In the quarter we continued to advance our integration efforts while beginning to launch new innovations such as our HealthHUB® concept stores. With our differentiated collection of health care assets we are uniquely positioned to lead the transformation of the U.S. health care system. We remain relentlessly focused on creating value for clients and customers while driving both near and longer-term returns for our shareholders.”














_____________________________________________ 
(a)
The Company presents both GAAP and non-GAAP financial measures in this press release to assist in the comparison of the Company’s past financial performance with its current financial performance. See “Non-GAAP Financial Information” on page 11 and endnotes (1) through (4) on page 23 for explanations of non-GAAP financial measures presented in this press release. See pages 12 through 14 and 21 through 22 for reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measure.

1


The following information was filed by Cvs Health Corp (CVS) on Wednesday, May 1, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Cvs Health Corp's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information Document
Condensed Consolidated Balance Sheets (Paranthetical)
Condensed Consolidated Balance Sheets (Unaudited)
Condensed Consolidated Statements Of Cash Flows (Unaudited)
Condensed Consolidated Statements Of Comprehensive Income (Unaudited)
Condensed Consolidated Statements Of Income (Unaudited)
Condensed Consolidated Statements Of Shareholder's Equity (Parentheticals) (Parentheticals)
Condensed Consolidated Statements Of Shareholders' Equity (Unaudited)
Acquisitions
Acquisitions (Details)
Acquisitions (Tables)
Acquisitions Fair Value Of Assets Acquired And Liabilities Assumed (Details)
Acquisitions Pro Forma Financials (Details)
Commitments And Contingencies
Commitments And Contingencies (Details)
Earnings Per Common Share
Earnings Per Common Share (Details)
Earnings Per Common Share (Tables)
Fair Value
Fair Value (Tables)
Fair Value - Separate Accounts Fair Value (Details)
Fair Value Fair Value - Carrying Value And Fair Value Classified By Level (Details)
Fair Value Fair Value - Measurement On A Recurring Basis (Details)
Health Care Costs Payable
Health Care Costs Payable (Details)
Health Care Costs Payable (Tables)
Investments
Investments (Details)
Investments (Tables)
Investments - Debt And Equity Securities (Details)
Investments - Debt Securities By Maturity (Details)
Investments - Investment Income (Details)
Investments - Mortgage Loans (Details)
Investments - Realized Gains (Details)
Investments - Unrealized Loss Position (Details)
Investments - Unrealized Loss Position Maturities (Details)
Investments Mortgage Loans Credit Ratings Indicator (Details)
Leases (Notes)
Leases (Tables)
Leases Maturity Of Lease Liabilities (Details)
Leases Summary Of The Components Of Net Lease Cost (Details)
Leases Supplemental Information (Details)
Other Comprehensive (Loss) Income
Other Comprehensive (Loss) Income (Details)
Other Comprehensive (Loss) Income (Tables)
Reinsurance
Segment Information
Segment Information (Tables)
Segment Information - Reconciliation Of Financial Measures Of Segments To Consolidated Totals (Details)
Segment Information - Retrospective Adjustment (Details)
Segment Information Segment Information - Reconciliation From Operating Income To Adjusted Operating Income (Details)
Shareholders' Equity
Shareholders' Equity Shareholders' Equity (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies Accounts Receivable (Details)
Summary Of Significant Accounting Policies Cash And Cash Equivalents, Restricted Cash And Cash Equivalents (Details)
Summary Of Significant Accounting Policies Contract Balances (Details)
Summary Of Significant Accounting Policies Disaggregation Of Revenue (Details)
Summary Of Significant Accounting Policies Impact Of New Lease Standard On Balance Sheet Line Items (Details)
Summary Of Significant Accounting Policies Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies Significant Accounting Policies - Narrative (Details)
Ticker: CVS
CIK: 64803
Form Type: 10-Q Quarterly Report
Accession Number: 0000064803-19-000021
Submitted to the SEC: Wed May 01 2019 12:57:10 PM EST
Accepted by the SEC: Wed May 01 2019
Period: Sunday, March 31, 2019
Industry: Retail Drug Stores And Proprietary Stores

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