The company said total revenues rose $5.7 billion (6.3%) from the prior year in the 3 months ended September 30, 2024, while operating income fell $2.9 billion (77.5%).

1. 01

   The company said total revenues rose $5.7 billion (6.3%) from the prior year in the 3 months ended September 30, 2024, while operating income fell $2.9 billion (77.5%).

2. 02

   CVS Health said it recorded premium deficiency reserves of about $1.1 billion in Q3 2024, primarily in its Medicare and individual exchange product lines, related to anticipated losses for the 2024 coverage year. The charge consists of $394 million of operating expenses and $670 million of health care costs.

3. 03

   The company said the Health Care Benefits segment’s medical benefit ratio (MBR) for Q3 rose to 95.2% from 85.7% a year earlier, and that the segment posted adjusted operating loss of $924 million (compared with adjusted operating income of $1.5 billion in the prior-year period).

4. 04

   The company said it finalized an enterprise-wide restructuring plan in Q3 2024. Following a review of its retail business, it said it plans to close 271 retail stores in 2025 and recorded a store impairment charge in connection with those closures.

Key figures

Quarter ended September 30, 2024

Revenue

$95.4B

Operating income

$832M

Net income

$87M

EPS

$0.07

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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