Last10K.com

Cvs Health Corp (CVS) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 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 FOURTH QUARTER AND FULL-YEAR 2019 RESULTS,
REFLECTING STRONG EXECUTION ACROSS THE ENTERPRISE

BUSINESS MOMENTUM DRIVES IMPROVED OUTLOOK FOR 2020

Fourth Quarter Highlights:
Total revenues increased 22.9% to $66.9 billion
GAAP operating income increased to $3.0 billion
Adjusted operating income (1) increased 1.3% to $3.8 billion
GAAP diluted earnings per share from continuing operations of $1.33
Adjusted EPS (2) of $1.73

Full Year Highlights:
Total revenues increased 32.0% to $256.8 billion
GAAP operating income increased to $12.0 billion
Adjusted operating income (1) increased 36.2% to $15.3 billion
GAAP diluted earnings per share from continuing operations of $5.08
Adjusted EPS (2) of $7.08
Generated cash flow from operations of $12.8 billion
Net repayments of long-term debt of $4.7 billion

2020 Full Year Guidance:
GAAP operating income in the range of $12.8 billion to $13.0 billion
Adjusted operating income (1) in the range of $15.5 billion to $15.8 billion
GAAP diluted EPS from continuing operations in the range of $5.47 to $5.60
Adjusted EPS (2) in the range of $7.04 to $7.17
Cash flow from operations in the range of $10.5 billion to $11.0 billion

WOONSOCKET, RHODE ISLAND, February 12, 2020 - CVS Health Corporation (NYSE: CVS) today announced operating results for the three months and year ended December 31, 2019.

“As we work to transform the way health care is delivered to millions of Americans, we are driving continued business performance and generating positive momentum across the enterprise. Our fourth quarter and full-year financial results reflect strong financial and operational execution and a successful first year of integrating the Aetna business. We’re using our unmatched capabilities to create a higher-quality, simpler and more affordable health care experience, which benefits patients, clients and consumers and positions the company for continued success,” said President and Chief Executive Officer Larry Merlo.

Merlo continued, “As a result of the significant progress we made in 2019, and meeting or exceeding our expectations for the year, we raised our outlook for 2020. Client, patient and consumer reception to our innovative product and service offerings, including our HealthHUB® locations, has been positive. We are confident that we’re on the right path to delivering significant value for all our stakeholders, which is a testament to the efforts of the nearly 300,000 CVS Health employees who work tirelessly to deliver these results while staying true to our purpose of helping people on their path to better health.”


_____________________________________________ 
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 26 for explanations of non-GAAP financial measures presented in this press release. See pages 13 through 17 and 24 through 25 for reconciliations of each non-GAAP financial measure to the most directly comparable GAAP financial measure.

1


The following information was filed by Cvs Health Corp (CVS) on Wednesday, February 12, 2020 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Cvs Health Corp's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Cvs Health Corp.

Continue

Assess how Cvs Health Corp's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Cvs Health Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2020 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

Tools

Rating

Learn More
Bullish Bearish Neutral
Filter by Sentiment:
All
Positive
Negative
Filter by Category:
All
Financial
Revenue
Legal
M & A
Other
Filter by Subcategory:
All
Debt
Dividend
Income
Expense
Product
Earnings
Shares
Cash Flow
Other
Inside Cvs Health Corp's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parentheticals)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Statements Of Operations
Consolidated Statements Of Shareholders' Equity
Consolidated Statements Of Shareholders' Equity (Parentheticals)
Acquisitions And Divestitures
Acquisitions And Divestitures (Tables)
Acquisitions And Divestitures - Assets Acquired And Liabilities Assumed (Details)
Acquisitions And Divestitures - Narrative (Details)
Acquisitions And Divestitures - Pro Forma (Details)
Borrowings And Credit Arrangements
Borrowings And Credit Arrangements (Tables)
Borrowings And Credit Arrangements - Debt Maturities (Details)
Borrowings And Credit Arrangements - Long-Term Borrowings (Details)
Borrowings And Credit Arrangements - Schedule Of Debt (Details)
Borrowings And Credit Arrangements - Short-Term 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 - Changes In Level 3 Financial Assets (Details)
Fair Value - Fair Value Measurements (Details)
Fair Value - Gross Transfers Into (Out Of) Level 3 (Details)
Fair Value - Offsetting Financial Liabilities (Details)
Fair Value - Separate Accounts Fair Value (Details)
Goodwill And Other Acquired Intangibles - Future Amortization Expense (Details)
Goodwill And Other Intangible Assets
Goodwill And Other Intangibles (Tables)
Goodwill And Other Intangibles - Goodwill (Details)
Goodwill And Other Intangibles - Intangible Assets (Details)
Goodwill And Other Intangibles - Narrative (Details)
Health Care Costs Payable
Health Care Costs Payable (Tables)
Health Care Costs Payable - Incurred And Paid Health Care Claims Development (Details)
Health Care Costs Payable - Narrative (Details)
Health Care Costs Payable - Reconciliation Of Health Care Costs Payable (Details)
Health Care Costs Payable - Reconciliation Of Health Care Net Incurred And Paid Claims Development To Health Care Costs Payable Liability (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Deferred Tax Assets And Liabilities (Details)
Income Taxes - Effective Tax Rate Reconciliation (Details)
Income Taxes - Income Tax Provision (Details)
Income Taxes - Narrative (Details)
Income Taxes - Unrecognized Tax Benefits (Details)
Investments
Investments (Tables)
Investments - Debt Securities (Details)
Investments - Debt Securities By Maturity (Details)
Investments - Mortgage Loans (Details)
Investments - Mortgage Loans Credit Ratings Indicator (Details)
Investments - Narrative (Details)
Investments - Net Investment Income (Details)
Investments - Realized Gains (Details)
Investments - Schedule Of Mortgage Loan Principal Repayments (Details)
Investments - Schedule Of Total Investments (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 - Narrative (Details)
Leases - Property And Equipment Under Capital Leases (Details)
Leases - Rental Expense (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
Other Comprehensive Income (Details)
Other Comprehensive Income (Tables)
Pension Plans And Other Postretirement Benefits
Pension Plans And Other Postretirement Benefits (Tables)
Pension Plans And Other Postretirement Benefits - Benefit Obligations And Plan Assets (Details)
Pension Plans And Other Postretirement Benefits - Changes In Level 3 Pension Plan Assets (Details)
Pension Plans And Other Postretirement Benefits - Defined Benefit Plans Expected Benefit (Details)
Pension Plans And Other Postretirement Benefits - Fair Value Of Pension Plan Assets (Details)
Pension Plans And Other Postretirement Benefits - Narrative (Details)
Pension Plans And Other Postretirement Benefits - Net Periodic Benefit Costs (Details)
Pension Plans And Other Postretirement Benefits - Weighted Average Assumptions Used (Details)
Quarterly Financial Data (Tables)
Quarterly Financial Information (Unaudited)
Quarterly Financial Information (Unaudited) (Details)
Reinsurance
Reinsurance (Tables)
Reinsurance - Effects Of Reinsurance (Details)
Reinsurance - Narrative (Details)
Reinsurance - Reinsurance Recoverables (Details)
Segment Reporting
Segment Reporting (Tables)
Segment Reporting - Narrative (Details)
Segment Reporting - Reconciliation Of Operating Earnings To Net Income (Details)
Segment Reporting - Summarized Financial Information Of Segments (Details)
Shareholders' Equity
Shareholders' Equity (Tables)
Shareholders' Equity - Dividends (Details)
Shareholders' Equity - Noncontrolling Interests (Details)
Shareholders' Equity - Regulatory Requirements (Details)
Shareholders' Equity - Repurchases (Details)
Significant Accounting Policies
Significant Accounting Policies (Policies)
Significant Accounting Policies (Tables)
Significant Accounting Policies - Accounts Receivable (Details)
Significant Accounting Policies - Contract Balances (Details)
Significant Accounting Policies - Disaggregation Of Revenue (Details)
Significant Accounting Policies - Discontinued Operations (Details)
Significant Accounting Policies - Impact Of New Lease Standard On Balance Sheet Line Items (Details)
Significant Accounting Policies - Narrative (Details)
Significant Accounting Policies - Property Plant And Equipment (Details)
Significant Accounting Policies - Restricted Cash (Details)
Significant Accounting Policies - Variable Interest Entities (Details)
Stock Incentive Plans
Stock Incentive Plans (Tables)
Stock Incentive Plans - Restricted Stock Activity (Details)
Stock Incentive Plans - Stock Option And Sar Activity (Details)
Stock Incentive Plans - Stock-Based Compensation Expense And Espp (Details)
Stock Incentive Plans - Valuation And Assumptions (Details)
Ticker: CVS
CIK: 64803
Form Type: 10-K Annual Report
Accession Number: 0000064803-20-000007
Submitted to the SEC: Tue Feb 18 2020 6:26:11 AM EST
Accepted by the SEC: Tue Feb 18 2020
Period: Tuesday, December 31, 2019
Industry: Retail Drug Stores And Proprietary Stores

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/cvs/0000064803-20-000007.htm