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

Cvs Health Corp

CIK: 64803 Ticker: CVS

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




Third Quarter Year-over-Year Highlights:
Total revenues increased 36.5% to $64.8 billion
GAAP operating income increased 13.8% to $2.9 billion
Adjusted operating income (1) increased 48.9% to $3.9 billion
GAAP diluted earnings per share from continuing operations of $1.17
Adjusted EPS (2) of $1.84

Year-to-date Highlights:
Generated cash flow from operations of $10.2 billion

2019 Full Year Guidance:
Revised GAAP operating income guidance range to $11.77 billion to $11.95 billion from $11.82 billion to $12.02 billion
Raised and narrowed adjusted operating income (1) guidance range to $15.22 billion to $15.40 billion from $15.16 billion to $15.36 billion
Revised GAAP diluted EPS from continuing operations guidance range to $4.90 to $4.98 from $4.93 to $5.04
Raised and narrowed Adjusted EPS (2) guidance range to $6.97 to $7.05 from $6.89 to $7.00
Confirmed cash flow from operations guidance range of $10.1 billion to $10.6 billion

WOONSOCKET, RHODE ISLAND, November 6, 2019 - CVS Health Corporation (NYSE: CVS) today announced operating results for the three months ended September 30, 2019.

President and Chief Executive Officer Larry Merlo stated, “Our third quarter results build on the positive momentum we have seen across the company since the beginning of the year. All of our core businesses performed in line with or above expectations, reflecting strong operational execution. As a result, we delivered strong growth and generated robust operating cash flow, which enabled us to continue to delever while returning capital to our shareholders.”

Merlo continued, “Based on strong year-to-date performance, we are raising and narrowing our full-year 2019 Adjusted EPS guidance range to $6.97 to $7.05. As we approach the first anniversary of the Aetna acquisition, we are increasingly confident in the strength of our broad and differentiated assets as a combined company and our ability to deliver compelling value to our customers and the communities we serve. Looking ahead, we remain focused on successful execution of our strategic priorities and integration plans to unleash the full potential of our consumer-centric health care model and create value for all stakeholders.”

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 27 for explanations of non-GAAP financial measures presented in this press release. See pages 13 through 17 and 25 through 26 for reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measure.


The following information was filed by Cvs Health Corp (CVS) on Wednesday, November 6, 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 (Unaudited)
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical)
Condensed Consolidated Statements Of Cash Flows (Unaudited)
Condensed Consolidated Statements Of Comprehensive Income (Unaudited)
Condensed Consolidated Statements Of Operations (Unaudited)
Condensed Consolidated Statements Of Shareholders' Equity (Parentheticals)
Condensed Consolidated Statements Of Shareholders' Equity (Unaudited)
Acquisition And Divestiture
Acquisition And Divestiture (Details)
Acquisition And Divestiture (Tables)
Acquisition And Divestiture - Divestiture Of Brazilian Subsidiary (Details)
Acquisition And Divestiture - Fair Value Of Assets Acquired And Liabilities Assumed (Details)
Acquisition And Divestiture - Pro Forma Financials (Details)
Borrowings (Tables)
Borrowings - Narrative (Details)
Borrowings - Schedule Of Borrowings (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 - Carrying Value And Fair Value Classified By Level (Details)
Fair Value - Measurement On A Recurring Basis (Details)
Fair Value - Separate Accounts Fair Value (Details)
Health Care Costs Payable
Health Care Costs Payable (Tables)
Health Care Costs Payable - Components Of Change In Health Care Costs Payable (Details)
Health Care Costs Payable - Narrative (Details)
Investments (Details)
Investments (Tables)
Investments - Debt 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 (Tables)
Leases - Maturities Of Operating And Finance Lease Liabilities (Details)
Leases - Narrative (Details)
Leases - Summary Of The Components Of Net Lease Cost (Details)
Leases - Supplemental Balance Sheet Information (Details)
Leases - Supplemental Cash Flow Information (Details)
Other Comprehensive Income (Loss)
Other Comprehensive Income (Loss) (Details)
Other Comprehensive Income (Loss) (Tables)
Reinsurance (Details)
Segment Reporting
Segment Reporting (Tables)
Segment Reporting - Narrative (Details)
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)
Ticker: CVS
CIK: 64803
Form Type: 10-Q Quarterly Report
Accession Number: 0000064803-19-000049
Submitted to the SEC: Wed Nov 06 2019 1:55:57 AM EST
Accepted by the SEC: Wed Nov 06 2019
Period: Monday, September 30, 2019
Industry: Retail Drug Stores And Proprietary Stores

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