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CVS Profits Eclipse $2.2 Billion As Company Integrates New Healthcare Businesses

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I've written about health care for three decades, starting from my native Iowa where I covered the presidential campaign bus rides of Bill and Hillary Clinton through the Hawkeye state talking health reform and the economy.

growth across all the company’s businesses and contributions from its new healthcare services acquisitions, the company said Nov. 1, 2023. In this photo, a pedestrian walks into a CVS Pharmacy in Washington, DC, on November 2, 2022. CVS Health reported net income of $2.2 billion thanks to double-digit percentage sales growth across all the company’s businesses and contributions from its new healthcare services acquisitions.

The company reported net income of $2.27 billion, or $1.75 per share, for the third quarter compared to a net loss of $3.40 billion, or $2.59 per share, in the year ago quarter when the company recorded $5 billion in opioid-related litigation charges. In its health care services business, which includes Oak Street and Signify, total revenues increased 8.4% to $46.9 billion “primarily driven by pharmacy drug mix, growth in specialty pharmacy, brand inflation and the acquisitions of Oak Street Health and Signify Health.” Operating income jumped nearly 11% to $1.9 billion in CVS; healthcare services segment.

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