CVS Health Q3 GAAP EPS falls to $0.07 as $1.1 billion reserve hits Health Care Benefits
CVS Health reported third quarter 2024 results for the three months ended September 30, 2024. Total revenues rose 6.3% to $95.4 billion, but GAAP diluted EPS fell to $0.07 from $1.75 and Adjusted EPS fell to $1.09 from $2.21, mainly due to a decline in the Health Care Benefits segment, which recorded about $1.1 billion of premium deficiency reserves. The company expects these reserves to be substantially released in the fourth quarter of 2024.
Key points
- Total revenues rose 6.3% to $95.4 billion; Health Care Benefits recorded an adjusted operating loss of $924 million versus adjusted operating income of $1.5 billion a year earlier.
- GAAP diluted EPS was $0.07 versus $1.75 a year earlier; Adjusted EPS was $1.09 versus $2.21.
- Restructuring charges of approximately $1.2 billion were recorded, including a $607 million store impairment tied to retail pharmacy stores to be closed in 2025.
- Premium deficiency reserves of approximately $1.1 billion are expected to be substantially released during the fourth quarter of 2024.
The filing
Written by AI on Nov 8, 2026, 1:21 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 06, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.