WOONSOCKET, R.I. — CVS Health topped analysts’ forecasts for fourth quarter sales and profits, but cut its full year earnings outlook, citing rising medical costs that are hurting the insurance industry. Revenue for the three months ended December 31 climbed 11.9% from the year-ago period to $93.81 billion, beating Wall Street’s estimate of $90.41 billion.
WOONSOCKET, R.I. — CVS Health topped Wall Street’s estimates for third-quarter revenue and earnings. Adjusted earnings per share of $2.21 exceeded analysts’ predicted $2.13, while revenue of $89.76 billion beat the forecast of $88.2 billion. “Our colleagues helped us deliver another quarter of positive results across our business areas,” said president and CEO Karen Lynch.
WOONSOCKET, R.I. — CVS Health said Monday that Shawn Guertin, executive vice president, chief financial officer and president of Health Services, will be taking a leave of absence due to unforeseen family health reasons. Senior Vice President of Corporate Finance Tom Cowhey has been appointed interim CFO, and Oak Street Health CEO Mike Pykosz has
WOONSOCKET, R.I. — CVS Health is planning to cut 5,000 jobs, according to a report Monday in The Wall Street Journal, which cited an internal company memo. Word of the cost-cutting move, which will reportedly spare workers in customer-facing positions in “stores, pharmacies, clinics, or customer services centers,” came ahead of the scheduled release of
WOONSOCKET, R.I. — CVS Health posted first quarter sales and earnings that topped Wall Street’s forecasts. Revenue for the period ended March 31 rose 11% to $85.3 billion, exceeding analysts’ projected $80.79 billion. Adjusted earnings of $2.20 per share beat the average estimate of $2.09. The strong showing notwithstanding, the company lowered its outlook for
WOONSOCKET, R.I. — CVS Health announced that Brian Kane will join the company as executive vice president and president of Aetna, effective September 1, 2023. He will become a member of the company’s executive leadership team and report to CVS Health president and CEO Karen Lynch. “Brian has a track record of bringing customer-driven innovations
WOONSOCKET, R.I. — CVS Health has agreed to acquire Oak Street Health in a $10.6 billion deal that will expand CVS’s recently formed Health Care Delivery organization. “Combining Oak Street Health’s platform with CVS Health’s unmatched reach will create the premier value-based primary care solution,” CVS Health president and CEO Karen Lynch said in a
WOONSOCKET, R.I. — CVS Health announced two executive appointments. David Joyner will rejoin the company as Executive Vice President and President of Pharmacy Services, while Amy Bricker has been named Executive Vice President and Chief Product Officer – Consumer. “David and Amy are accomplished leaders with proven track records of anticipating and meeting customer and client needs,” said
WOONSOCKET, R.I. — CVS Health has appointed Dr. Amar Desai as president, Health Care Delivery. He will lead the newly formed Health Care Delivery organization, overseeing implementation of key areas of the company’s health services and care delivery strategy. “This new organization will leverage the strength of the CVS Health portfolio to develop and