CVS · 10-Q · 2026Q2 · Full report

Operating Expense Trends

CVS HEALTH Corp · 2026-08-05 · Importance 39 · Surprise 50 · In source text

Consolidated operating expenses decreased $166 million, or 1.5%, to $11.0 billion in the second quarter and $244 million, or 1.1%, to $22.0 billion for the first six months. The quarterly reduction primarily reflected the absence of $833 million in prior-year legacy litigation charges, partly offset by business investments and costs supporting higher Rite Aid acquisition volumes. Year-to-date operating expenses also benefited from the absence of $1.2 billion in litigation charges and $288 million in Accountable Care wind-down and sale losses. Health Services operating expenses declined 20.2% in the quarter and 19.6% year to date, while Pharmacy & Consumer Wellness expenses declined 3.2% and 3.3%, respectively.

Key facts

• Cost of products sold for the three months ended June 30, 2026 was $58,862 million, up $4,857 million or 9.0% versus prior year. source
• Operating expenses decreased $166 million, or 1.5%, in the three months ended June 30, 2026 primarily due to the absence of $833 million in legacy litigation charges recorded in the prior year. source
• Corporate/Other adjusted operating loss for the three months ended June 30, 2026 was $(477) million, an increase in adjusted operating loss of $64 million or 15.5% versus prior year. source

Impact estimates