CVS Health publishes Q3 2026 earnings call transcript
CVS•CVS Health plans to split into two publicly traded companies in the first half of 2028 and raised its 2026 adjusted EPS guidance to at least $8.20. It forecast 2027 adjusted EPS of at least $8.65 and operating cash flow of at least $15.5 billion for 2026.
1. Planned company split
CVS Health plans to separate its retail pharmacy business from healthcare solutions in the first half of 2028. Healthcare solutions will retain Aetna, Caremark and specialty pharmacy, while CVS Pharmacy will include retail stores, mail order and community healthcare.
2. Updated financial outlook
Management raised 2026 adjusted EPS guidance to at least $8.20, from a prior range of $7.90 to $8.10, and forecast operating cash flow of at least $15.5 billion. The company’s 2027 adjusted EPS outlook is at least $8.65, and share repurchases are set to resume in the fourth quarter of 2026.
