CVS Health — May 1, 2025 release

ull-Year Guidance • Revised GAAP diluted EPS guidance range to $4.23 to $4.43 from $4.58 to $4.83 • Raised Adjusted EPS guidance range to $6.00 to $6.20 from $5.75 to $6.00 • Raised cash flow from operations guidance to approximately $7.0 billion from approximately $6.5 billion CEO Commentary “As we aim to be the most trusted health care company in America, we are driving greater care, value, and service from our integrated, industry-leading businesses. Thanks to a resolute focus on customers, our colleagues across CVS Health delivered positive results across our Health Care Benefits, Health Services and Pharmacy & Consumer Wellness segments, as we continue to build a world of better health around the 185 million consumers we are privileged to serve.” — David Joyner, CVS Health President and CEO WOONSOCKET, RHODE ISLAND, May 1, 2025 - CVS Health Corporation (NYSE: CVS) today announced operating results for the three months ended March 31, 2025. Financial Results Summary Three Months Ended March 31, In millions, except per share amounts 2025 2024 Change Total revenues $ 94,588  $ 88,437  $ 6,151  Operating income 3,374  2,271  1,103  Adjusted operating income (1) 4,579  2,957  1,622  Diluted earnings per share $ 1.41  $ 0.88  $ 0.53  Adjusted EPS (2) $ 2.25  $ 1.31  $ 0.94  First quarter GAAP diluted EPS of $1.41 increased from $0.88 in the prior year and Adjusted EPS of $2.25 increased from $1.31 in the prior year, primari