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CVS Beats Q3 Forecasts, Lifts 2025 Outlook, Takes $5.7 Billion Hit on Care Delivery

The company pivots from rapid clinic expansion to tighter execution, projecting mid‑teens profit growth in 2026.

Overview

  • Adjusted EPS reached $1.60 on revenue of about $102.9 billion, topping Wall Street estimates.
  • Full‑year 2025 adjusted earnings guidance rose to $6.55–$6.65 per share, with a fuller 2026 outlook promised in December after signaling mid‑teens growth.
  • CVS reported a net loss of roughly $4 billion after recording a $5.73 billion goodwill impairment tied to Oak Street Health, MinuteClinics and Signify Health.
  • Sixteen underperforming Oak Street clinics will close, and the company will slow future primary‑care clinic openings.
  • Aetna’s medical loss ratio improved to 92.8% with revenue up about 9%, while pharmacy and PBM results benefited from higher prescription volume, including files acquired from Rite Aid.