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Cvs Health Corp (CVS) SEC Filing 10-Q Quarterly report for the period ending Sunday, June 30, 2019

Cvs Health Corp

CIK: 64803 Ticker: CVS



Exhibit 99.1
 
 
 
 
Investor
Valerie Haertel
Media
T.J. Crawford
Contact:
Senior Vice President
Contact:
Vice President
 
Investor Relations
 
External Affairs
 
(401) 770-4050
 
(212) 457-0583

FOR IMMEDIATE RELEASE

CVS HEALTH REPORTS SECOND QUARTER RESULTS

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


Second Quarter Year-over-Year Highlights:
Revenues increased 35.2% to $63.4 billion
GAAP operating income increased to $3.3 billion
Adjusted operating income (1) increased 55.1% to $4.0 billion
GAAP diluted earnings per share from continuing operations of $1.49
Adjusted EPS (2) of $1.89

Year-to-date Highlights:
Generated cash flow from operations of $7.3 billion

2019 Full Year Guidance:
Confirmed GAAP operating income guidance range of $11.8 billion to $12.0 billion
Raised the guidance range for adjusted operating income (1) to $15.2 billion to $15.4 billion from $15.0 billion to $15.2 billion
Raised and narrowed GAAP diluted EPS from continuing operations guidance range to $4.93 to $5.04 from $4.90 to $5.05
Raised and narrowed Adjusted EPS (2) guidance range to $6.89 to $7.00 from $6.75 to $6.90
Raised cash flow from operations guidance range to $10.1 billion to $10.6 billion from $9.8 billion to $10.3 billion

WOONSOCKET, RHODE ISLAND, August 7, 2019 - CVS Health Corporation (NYSE: CVS) today announced operating results for the three months ended June 30, 2019.

President and Chief Executive Officer Larry Merlo stated, “We posted strong second quarter results, with all of our businesses performing at or above expectations. These results demonstrate our ability to execute on our strategic priorities to accelerate enterprise growth as we seek to fundamentally transform the consumer health experience. Given our performance to date and our expectations for the remainder of the year, we are raising and narrowing our Adjusted EPS guidance range to $6.89 to $7.00.”

“We made meaningful advancements on each of the priorities we outlined at our Investor Day in early June to differentiate, transform and modernize the delivery of care. While still early, we remain confident that we will be able to realize the potential of our innovative and powerful new business model to deliver enhanced value to our clients and the consumers we serve.”








_____________________________________________ 
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 pages 11 through 12 and endnotes (1) through (4) on page 28 for explanations of non-GAAP financial measures presented in this press release. See pages 13 through 17 and 25 through 27 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, August 7, 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

Cover Page
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Balance Sheets (Unaudited)
Condensed Consolidated Statements Of Cash Flows (Unaudited)
Condensed Consolidated Statements Of Comprehensive Income (Loss) (Unaudited)
Condensed Consolidated Statements Of Operations (Unaudited)
Condensed Consolidated Statements Of Shareholders' Equity (Parentheticals)
Condensed Consolidated Statements Of Shareholders' Equity (Unaudited)
Acquisition Of Aetna
Acquisition Of Aetna (Details)
Acquisition Of Aetna (Tables)
Acquisition Of Aetna - Fair Value Of Assets Acquired And Liabilities Assumed (Details)
Acquisition Of Aetna - Pro Forma Financials (Details)
Commitments And Contingencies
Commitments And Contingencies (Details)
Earnings (Loss) Per Share
Earnings (Loss) Per Share (Details)
Earnings (Loss) Per 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 - Mortgage Loans Credit Ratings Indicator (Details)
Investments - Realized Gains (Details)
Investments - Unrealized Loss Position (Details)
Investments - Unrealized Loss Position Maturities (Details)
Leases
Leases (Tables)
Leases - Maturities Of Operating And Finance Lease Liabilities (Details)
Leases - Summary Of The Components Of Net Lease Cost (Details)
Leases - Supplemental Balance Sheet Information (Details)
Leases - Supplemental Cash Flow Information (Details)
Leases Leases - Narrative (Details)
Other Comprehensive Income (Loss)
Other Comprehensive Income (Loss) (Details)
Other Comprehensive Income (Loss) (Tables)
Reinsurance
Reinsurance (Details)
Segment Reporting
Segment Reporting (Tables)
Segment Reporting - Reconciliation From Operating Income To Adjusted Operating Income (Details)
Segment Reporting - Reconciliation Of Financial Measures Of Segments To Consolidated Totals (Details)
Segment Reporting - Retrospective Adjustment (Details)
Shareholders' Equity
Shareholders' Equity (Details)
Significant Accounting Policies
Significant Accounting Policies - Accounts Receivable (Details)
Significant Accounting Policies - Cash And Cash Equivalents, Restricted Cash And Cash Equivalents (Details)
Significant Accounting Policies - Contract Balances (Details)
Significant Accounting Policies - Disaggregation Of Revenue (Details)
Significant Accounting Policies - Impact Of New Lease Standard On Balance Sheet Line Items (Details)
Significant Accounting Policies - Narrative (Details)
Significant Accounting Policies (Policies)
Significant Accounting Policies (Tables)
Subsequent Event
Subsequent Event (Details)
Ticker: CVS
CIK: 64803
Form Type: 10-Q Quarterly Report
Accession Number: 0000064803-19-000039
Submitted to the SEC: Wed Aug 07 2019 12:28:04 PM EST
Accepted by the SEC: Wed Aug 07 2019
Period: Sunday, June 30, 2019
Industry: Retail Drug Stores And Proprietary Stores

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