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

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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