CVS Health (CVS) Reaffirms Prior FY24 Guidance

On March 5, 2024, members of CVS Health (NYSE: CVS) senior management team will meet with investors and Executive Vice President and Chief Financial Officer Tom Cowhey will participate in a webcast at 9:50 a.m. (Eastern Time). During the meetings and webcast, the senior management team will reaffirm the Company’s previously announced full-year 2024 GAAP diluted earnings per share (“EPS”) guidance of at least $7.06, its full-year 2024 Adjusted EPS guidance of at least $8.30, and its full-year 2024 cash flow from operations guidance of at least $12.0 billion. In addition, during the webcast Mr. Cowhey will provide updates on recent business trends and initiatives.
An audio webcast of the presentation will be broadcast simultaneously for all interested parties through the Investor Relations portion of the CVS Health website at http://investors.cvshealth.com, and a replay of the webcast will be archived for one year.

Non-GAAP Financial Measures

This Current Report on Form 8-K includes projected Adjusted EPS, which represents a non-GAAP financial measure. The Company uses non-GAAP financial measures to analyze underlying business performance and trends. The Company believes that providing non-GAAP financial measures enhances the Company’s and investors’ ability to compare the Company’s past financial performance with its current performance. Non-GAAP financial measures should not be considered a substitute for, or superior to, financial measures determined or calculated in accordance with GAAP. The Company’s definitions of its non-GAAP financial measures may not be comparable to similarly titled measures reported by other companies. The most directly comparable GAAP measure is projected GAAP diluted EPS.
Projected GAAP diluted EPS and projected Adjusted EPS, respectively, are calculated by dividing projected net income attributable to CVS Health and projected adjusted income attributable to CVS Health, respectively, by the Company’s projected weighted average diluted shares outstanding. The Company defines adjusted income attributable to CVS Health as net income attributable to CVS Health (GAAP measure) excluding the impact of amortization of intangible assets, net realized capital gains or losses and other items, if any, that neither relate to the ordinary course of the Company’s business nor reflect the Company’s underlying business performance, such as acquisition-related integration costs, as well as the corresponding tax benefit or expense related to the items excluded from adjusted income attributable to CVS Health.

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