CVS Health (NYSE: CVS) reported Q3 EPS of $1.29, in-line with the analyst estimate of $1.29. Revenue for the quarter came in at $38.5 billion versus the consensus estimate of $37.81 billion.

Same store sales for the retail drugstores increased 1.7% versus the third quarter of last year, with pharmacy same store sales up 4.6% and pharmacy same store prescription volumes up 4.4% on a 30-day equivalent basis. Pharmacy same store sales were negatively affected by approximately 450 basis points from recent generic drug introductions. Front store same store sales declined 5.8%. Front store same store sales would have been approximately 490 basis points higher if tobacco and the estimated associated basket sales were excluded from the three months ended September 30, 2014. Front store same store sales were negatively affected by softer customer traffic, partially offset by an increase in basket size.

Changes in Segment Definition

As a result of the acquisition of Omnicare, Inc. ("Omnicare"), which closed August 18, 2015, the segments of CVS Health Corporation (the "Company") have been expanded. The Company's Pharmacy Services Segment now also includes the specialty pharmacy operations of Omnicare. The Company's Retail Pharmacy Segment now also includes the long-term care ("LTC") operations, as well as the commercialization services, supply chain solutions and patient support services of Omnicare, and has been renamed the "Retail/LTC Segment." The LTC operations include providing the distribution of pharmaceuticals, related pharmacy consulting and other ancillary services to chronic care facilities and other care settings. The Company's Corporate Segment now also includes certain aspects of Omnicare's corporate expenses.

Guidance:

CVS Health sees FY2015 EPS of $5.14-$5.18, versus the consensus of $5.16.

CVS Health sees Q4 2015 EPS of $1.51-$1.55, versus the consensus of $1.50.

CVS Health sees FY2016 EPS of $5.68-$5.88, versus the consensus of $6.02.

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