-- Outlines strategy to deliver best-in-class execution, transform consumer 
      experiences, be the partner of choice, and harness unique enterprise 
      capabilities 
 
   -- Updates 2025 full-year financial guidance; provides 2026 full-year 
      financial guidance 
 
   -- Commits to mid-teens Adjusted EPS CAGR through 2028 
 
   -- Announces strategy to uniquely reimagine health care through improved 
      engagement and simplified experiences 

HARTFORD, Conn., Dec. 9, 2025 /PRNewswire/ -- Today at its 2025 Investor Day, CVS Health$(R)$ $(CVS)$ (the "Company") will launch its strategy to deliver best-in-class execution, transform consumer experiences, be the partner of choice, and harness unique enterprise capabilities to address challenges across the health care system. With a powerful collection of diversified businesses that work together across the health care landscape -- Aetna, CVS Caremark, CVS Pharmacy and Health Care Delivery -- CVS Health and its over 300,000 dedicated colleagues can simplify care and improve health in ways no other company can.

"CVS Health is committed to being the most trusted health care company in America," said President and CEO, David Joyner. "We are executing with discipline, strengthening our core businesses and delivering meaningful progress across our enterprise. As we look ahead, we are focused on building a simpler, more connected and more affordable health care experience for consumers, health care professionals, and payors, delivering value for all stakeholders."

CVS Health has unmatched reach, with connections to approximately 185 million consumers across its businesses including over 9,000 pharmacies and through broad omnichannel capabilities. CVS Health brings innovative solutions to consumers and clients at scale. The Company builds engagement locally, with 85 percent of Americans living within 10 miles of a CVS Pharmacy. In addition, the Company has 1.5 million relationships with health care providers and more than 60 health plan clients, allowing it to play a central role in health care and providing a unique opportunity to shape the future of health care.

"In my nearly 40 years at the Company, I have seen our businesses and our industry find ways forward, always with consumer needs first. Our obligation is to ensure that CVS Health is best positioned to do the most good for the most people for the next 40 years," said Joyner.

Updating 2025 full-year financial guidance, providing 2026 full-year financial guidance and long-term financial growth targets

At Investor Day, CVS Health will update its 2025 full-year financial guidance, provide 2026 full-year financial guidance and introduce its expectations for a mid-teens Adjusted EPS compound annual growth rate ("CAGR") over the next three years, driven by unlocking the significant earnings power of its best-in-class businesses:

   -- strong earnings growth, powered by return to target margins at Aetna(R) 
 
   -- winning and retaining business, while delivering attractive margins at 
      CVS Caremark(R) 
 
   -- sustaining earnings while serving as the front door to health care at CVS 
      Pharmacy(R) 
 
   -- driving towards breakeven with a path to sustained profitability across 
      the Health Care Delivery business 

"We are closing out 2025 with meaningful momentum across our businesses and we expect another year of strong earnings growth in 2026," said executive vice president and Chief Financial Officer, Brian Newman. "We are committed to doing what we say. Our guidance philosophy is centered on providing credible and clear expectations with opportunities for outperformance. Our long-term outlook highlights the power of our diversified enterprise in a constantly evolving industry."

2025 full-year financial guidance

Today, the Company is updating its 2025 full-year financial guidance provided on its October 29, 2025 earnings call as follows:

   -- Raised total revenues guidance to at least $400.0 billion from at least 
      $397.3 billion 
 
   -- Raised GAAP operating income guidance range to $4.37 billion to $4.54 
      billion from $4.29 billion to $4.46 billion 
 
   -- Raised adjusted operating income guidance range to $14.22 billion to 
      $14.39 billion from $14.14 billion to $14.31 billion 
 
   -- Raised GAAP diluted earnings (loss) per share guidance range to $(0.32) 
      to $(0.22) from $(0.34) to $(0.24) 
 
   -- Raised Adjusted EPS guidance range to $6.60 to $6.70 from $6.55 to $6.65 
 
   -- Confirmed cash flow from operations guidance range of $7.5 billion to 
      $8.0 billion 

2026 full-year financial guidance

The Company is initiating its 2026 full-year financial guidance as follows:

   -- Total revenues of at least $400.0 billion 
 
   -- GAAP operating income guidance range of $13.26 billion to $13.60 billion 
 
   -- Adjusted operating income guidance range of $15.07 billion to $15.41 
      billion 
 
   -- GAAP diluted EPS guidance range of $5.94 to $6.14 
 
   -- Adjusted EPS guidance range of $7.00 to $7.20 
 
   -- Cash flow from operations guidance of at least $10.0 billion 

Mid-teens Adjusted EPS CAGR through 2028

CVS Health expects to achieve a mid-teens Adjusted EPS CAGR through 2028 driven by continued strong performance from its unique collection of businesses, underpinned by best-in-class innovation and technology.

Announces open consumer engagement platform to simplify care and improve health

CVS Health today announced the launch of a new technology products and services offering, focusing on "Engagement as a Service." CVS Health is building upon its leading technology position to create an open consumer engagement platform that integrates experiences across its entities and participating industry partners.

Engagement can make a difference for people accessing and getting more value from their health care experiences. Engagement can help consumers live longer and healthier lives, deliver lower health care costs, reduces hospital readmissions, and unlocks personalized products and services and go-to-market strategies.

The open consumer engagement platform can create new sources of value for the partners and participants on the platform, and for CVS Health:

   -- CVS Health is creating a fully integrated platform for its entities. 
 
   -- CVS Health is building the platform as an artificial intelligence 
      ("AI")-native product. 
 
   -- CVS Health plans to bring together the various components of health care 
      into one easy to use platform, anchored in a singular app. 
 
   -- The work builds on industry-leading AI driven solutions which are already 
      deployed at Aetna, CVS Caremark, CVS Pharmacy, and the Health Care 
      Delivery businesses, helping CVS Health to be more proactive in customer 
      and consumer engagement, and driving efficiency in its operations. 

Webcast Information

The conference will begin at 8:00 AM ET. A link to the live webcast and presentation materials will be available on the Investor Relations portion of the CVS Health website at investors.cvshealth.com where it will be archived for a period of one year.

About CVS Health

CVS Health is a leading health solutions company building a world of health around every consumer, wherever they are. As of September 30, 2025, the Company had over 9,000 retail pharmacy locations, more than 1,000 walk-in and primary care medical clinics and a leading pharmacy benefits manager with approximately 87 million plan members. The Company also serves an estimated more than 37 million people through traditional, voluntary and consumer-directed health insurance products and related services, including highly rated Medicare Advantage offerings and a leading standalone Medicare Part D prescription drug plan. The Company's integrated model uses personalized, technology driven services to connect people to simply better health, increasing access to quality care, delivering better outcomes, and lowering overall costs.

Cautionary Statement Concerning 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. Statements in this press release that are forward-looking include, but are not limited to, references to CVS Health Corporation's priority areas for strategic growth, financial outlook, long-term growth targets, capital deployment, Mr. Joyner's quotations, Mr. Newman's quotation, the information under the headings "Updating 2025 full-year financial guidance, providing 2026 full-year financial guidance and long-term financial growth targets", including "2025 full-year financial guidance" and "2026 full-year financial guidance", "Mid-teens Adjusted EPS CAGR through 2028", "Announces open consumer engagement platform to simplify care and improve health" and the information included in the reconciliations and endnotes. By their nature, all forward-looking statements 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 differ materially from those contemplated by the forward-looking statements due to the risks and uncertainties described in our Securities and Exchange Commission ("SEC") filings, including those set forth in the Risk Factors section and under the heading "Cautionary Statement Concerning Forward-Looking Statements" in our most recently filed Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q for the quarterly periods ended March 31, 2025, June 30, 2025, and September 30, 2025 and our Current Reports on Form 8-K.

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December 09, 2025 06:30 ET (11:30 GMT)