CVS Health beat Wall Street estimates and raised its full-year outlook, even as it reported a multibillion-dollar loss tied to struggles in its health care delivery division.
The company posted a net loss of $3.98 billion, or $3.13 per share, for the quarter ended 30 September, driven by a $5.3 billion goodwill impairment charge.
Excluding the charge, adjusted earnings rose to $1.60 per share, up from $1.09 last year and well above analyst forecasts of $1.37.
Revenue climbed 7.8% to a record $102.9 billion, surpassing expectations of $98.8 billion.
Sales in the pharmacy and consumer wellness segment grew 11.7%, helped by higher prescription volumes and the acquisition of Rite Aid prescription files, partially offset by reimbursement pressure.
The health care benefits segment, which includes Aetna, saw revenue increase 9.1% to nearly $36 billion.
CVS said its health care delivery business continues to face challenges and will undergo strategic restructuring, including reducing planned clinic openings for 2026 and closing select Oak Street Health locations.
The company raised its 2025 adjusted earnings forecast to $6.55–$6.65 per share, up from $6.30–$6.40, and expects operating cash flow between $7.5 billion and $8 billion.
“CVS Health uniquely delivers what the people we serve want the most: a connected, simpler experience that improves health and simplifies care,” said CEO David Joyner.
“Our strong enterprise performance shows continued progress on operational and financial improvement.”
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