Cvs Health Corp (CVS) SEC Filing 10-Q Quarterly report for the period ending Tuesday, June 30, 2020

Cvs Health Corp

CIK: 1796458 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




Swift and Decisive Response to COVID-19:
Support for employees, clients and communities across the country
Testing thousands every day in collaboration with federal, state and local officials
Consumer-driven health care model increases access to goods and services

First Quarter Year-over-Year Highlights:
Total revenues increased 8.3% to $66.8 billion
GAAP operating income increased 28.6% to $3.5 billion
Adjusted operating income (1) increased 14.4% to $4.1 billion
GAAP diluted earnings per share of $1.53
Adjusted EPS (2) of $1.91
Generated cash flow from operations of $3.3 billion

2020 Full Year Guidance:
GAAP diluted EPS guidance range of $5.47 to $5.60 and Adjusted EPS (2) guidance range of $7.04 to $7.17 remain unchanged
Cash flow from operations guidance range of $10.5 billion to $11.0 billion remains unchanged
Given the likelihood of significant variability in the impact of COVID-19 on the Company’s financial statement line items and related ratios, 2020 additional detailed guidance not noted above is withdrawn

WOONSOCKET, RHODE ISLAND, May 6, 2020 - CVS Health Corporation (NYSE: CVS) today announced operating results for the three months ended March 31, 2020.

CVS Health President and CEO Larry J. Merlo stated, “We have a presence in communities across the country and interact with one in three Americans every year. We have a leading consumer brand with a diversified portfolio of essential health care businesses.

“When facing any health crisis, including this pandemic, we’re uniquely positioned to understand consumer and patient needs and how to address them. This includes increasing access to medicine and virtual care, and testing thousands for the virus every day to ready our country to reopen safely. We’re utilizing our innovation-driven health care model, scale and unique capabilities to benefit consumers across the health care system, and none of this could be done without the tireless dedication of our colleagues.”

A summary of the Company’s response to the COVID-19 pandemic is included on page six.

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 12 and endnotes (1) and (2) on page 22 for explanations of non-GAAP financial measures presented in this press release. See pages 13 through 14 and page 21 for reconciliations of each non-GAAP financial measure to the most directly comparable GAAP financial measure.


The following information was filed by Cvs Health Corp (CVS) on Wednesday, May 6, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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

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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)
Borrowings (Tables)
Borrowings - Narrative (Details)
Borrowings - Schedule Of Borrowings (Details)
Commitments And Contingencies
Commitments And Contingencies (Details)
Earnings Per Share
Earnings Per Share (Details)
Earnings 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 - Mortgage Loans (Details)
Investments - Mortgage Loans Credit Ratings Indicator (Details)
Investments - Net Investment Income (Details)
Investments - Realized Gains (Details)
Investments - Unrealized Loss Position (Details)
Investments - Unrealized Loss Position Maturities (Details)
Other Comprehensive Income
Other Comprehensive Income (Details)
Other Comprehensive Income (Tables)
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)
Shareholders' Equity
Shareholders' Equity (Details)
Significant Accounting Policies
Significant Accounting Policies (Policies)
Significant Accounting Policies (Tables)
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 - Narrative (Details)
Subsequent Event
Subsequent Event (Details)
Ticker: CVS
CIK: 64803
Form Type: 10-Q Quarterly Report
Accession Number: 0000064803-20-000030
Submitted to the SEC: Wed Aug 05 2020 6:37:51 AM EST
Accepted by the SEC: Wed Aug 05 2020
Period: Tuesday, June 30, 2020
Industry: Retail Drug Stores And Proprietary Stores

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