Second quarter 2023
Earnings conference call
Karen S. Lynch
President and
Chief Executive Officer
Shawn M. Guertin
Executive Vice President and Chief Financial Officer
August 2, 2023
Cautionary statement
concerning forward-looking statements
2 ©2023 CVS Health and/or one of its affiliates.
This presentation includes forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward- looking statements made by or on behalf of CVS Health Corporation ("CVS Health"). By their nature, all forward-lookingstatements are not guarantees of future performance or results and are subject to risks and uncertainties that are difficult to predict and/or quantify. Actual results may also differ materially from those contemplated by the forward-lookingstatements due to the risks and uncertainties related to the recent acquisitions of Signify Health, Inc. and Oak Street Health, Inc., and the impact of COVID-19and any new variants or viruses, as well as the risks and uncertainties described in our Securities and Exchange Commission filings, including those set forth in the Risk Factors section and under the heading "Cautionary Statement Concerning Forward- Looking Statements" in our most recent Annual Report on Form 10-K,our most recent Quarterly Report on Form 10-Q,our recent Current Reports on Form 8-K,and this morning's earnings press release.
This presentation includes non-GAAP financial measures that we use to describe our company's performance. In accordance with SEC regulations, you can find the definitions of these non-GAAP measures, as well as reconciliations to the most directly comparable GAAP measures, on the Investor Relations portion of our website.
Link to our non-GAAP Reconciliations
Financial highlights
Delivered strong revenue growth of 10.3% and Adjusted EPS of $2.21 in the second quarter of 2023.
Adjusted EPS guidance reaffirmed at $8.50 to $8.70; expect 2023 MBR at high-end of range.
DELIVERED STRONG
Q2 Financial results
10.3%
revenue growth
$1.48
GAAP EPS
$2.21
Adjusted EPS
$5.9B
cash flow from operations
DEPLOYED CAPITAL TO GENERATE
Shareholder value
Oak Street Health
acquisition closed in May
$795M
returned to shareholders through quarterly dividend
$5.0B
long-term debt issued; repaid $5.0B term loan used to fund the Oak Street transaction
FULL-YEAR 2023
Company guidance
$350 - $356B
Total company revenue
$17.3 - $17.7B
Total adjusted operating income
$8.50 - $8.70
Total company adjusted EPS
$12.5 - $13.5B
Total operating cash flow
3 ©2023 CVS Health and/or one of its affiliates.
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4 ©2023 CVS Health and/or one of its affiliates.
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CVS Health Corporation published this content on 02 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 August 2023 11:15:19 UTC.