CVS · 10-Q · 2026Q2 · Full report

Operating Income and Margins

CVS HEALTH Corp · 2026-08-05 · Importance 57 · Surprise 64 · In source text

Consolidated operating income increased 97.5% to $4.7 billion in the second quarter and 63.0% to $9.4 billion for the first six months of 2026. Consolidated operating margin expanded to 4.4% from 2.4% in the quarter and to 4.5% from 3.0% year to date. Health Care Benefits adjusted operating income increased 85.5% to $2.4 billion in the quarter and 65.6% to $5.5 billion year to date, while its adjusted margin rose to 6.5% and 7.4%, respectively. The principal drivers were improved Government performance, the absence of prior-year premium deficiency reserves, and the absence of legacy litigation and Accountable Care losses.

Key facts

• Consolidated operating income for the three months ended June 30, 2026 was $4,703 million, up $2,322 million or 97.5% versus prior year. source
• Consolidated operating income for the six months ended June 30, 2026 was $9,383 million, up $3,628 million or 63.0% versus prior year. source
• Net income attributable to CVS Health for the three months ended June 30, 2026 was $2,979 million, an increase of $1,958 million or 191.8% versus prior year. source
• Health Services segment operating income for the three months ended June 30, 2026 was $1,603 million, up from $1,102 million in the prior year. source
• Pharmacy & Consumer Wellness segment operating income for the three months ended June 30, 2026 was $1,411 million versus an unspecified amount in prior-year table cell left blank in the MD&A excerpt (but adjusted operating income provided). source

Impact estimates