CVS · 8-K · 20260805PR000097
Operating Expense Trends
CVS HEALTH Corp · 2026-08-05 · Importance 59 · Surprise 48 · From source text
Consolidated operating expenses declined $166 million, or 1.5%, to $11.046 billion in the second quarter despite revenue growth of 7.3%. Health Services operating expenses fell $236 million, or 20.2%, to $934 million, reducing its expense ratio to 1.8% from 2.5%. Pharmacy & Consumer Wellness operating expenses decreased $168 million, or 3.2%, to $5.123 billion, reducing its expense ratio to 15.1% from 15.8%. Health Care Benefits operating expenses increased $139 million, or 3.1%, to $4.655 billion, while its expense ratio improved to 12.4% from 12.5%.
Key facts
- Operating expenses consolidated for Q2 2026: $11,046 million versus $11,212 million in Q2 2025 source
- Projected acquisition-related integration costs for full-year 2026 guidance: $80 million ($0.06 per share) source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | positive | realized | +0.2% | Operating expenses consolidated for Q2 2026: $11,046 million versus $11,212 million in Q2 2025 |
| operating_income | negative | committed | -0.1% | Projected acquisition-related integration costs for full-year 2026 guidance: $80 million ($0.06 per share) |