CVS Health Corp. · CVS · Next earnings

CVS Health Corp. reports Tuesday, Feb 9, 2027

CVS reports before market open with consensus EPS at $1.26 and revenue at $106.89B. Last quarter: CVS raises 2026 outlook and plans a two-company separation

Reports Before market open96 days awayDate estimated Healthcare

What the street expects

Consensus for the coming report
Consensus EPS $1.26 Calendar consensus
Consensus revenue $106.89B Calendar consensus
Report date Feb 9, 2027 Tuesday, date estimated
Session Before market open 96 days away

Where CVS left off: FY2026 Q3

Full report

CVS raises 2026 outlook and plans a two-company separation

EPS surprise — Reported — vs $1.65
Revenue surprise — Reported — vs $104.69B
Stock move -12.5% Event window
Subsequent drift 0.0% Up to 20 sessions

Management raised 2026 adjusted EPS guidance to at least $8.20 and cash flow guidance to at least $15.5 billion. It set a 2027 EPS outlook of $8.65, reflecting expected 13% growth and continued Medicare Advantage margin improvement.

What to watch on the call

Carried forward from the last transcript

Risks management flagged

  • A high Medicare cost-trend environment could pressure margins.
  • Expected 340B program decline and health-plan membership attrition could weigh on results.
  • The separation could create integration, commercial-agreement, leverage or credit-rating challenges and financial dis-synergies.
  • Regulatory scrutiny of Medicare Advantage and the 340B program remains a concern identified in the transcript analysis.

Questions analysts left open

  • Timing and strategic rationale for the separation.
  • The 340B business outlook and its effect on earnings.
  • How the split may affect leverage ratios and credit ratings.
  • The scale and timing of share repurchases and potential financial dis-synergies between the new entities.

Ask FN2 about CVS next report

Choose a question to continue your research
What should I watch for in CVS's next earnings report?How did CVS guide last quarter, and is consensus above or below that?Give me the bull and bear case going into CVS earnings.

Free to start. Your question opens in chat for you to review and send. FN2 can look up the transcript, financials and prior quarters.

Get the CVS recap when the next report posts

One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.

Recent CVS quarters

All CVS earnings
-12.5%FY2026 Q3-5.1%FY2026 Q2+7.6%FY2026 Q1-0.1%FY2025 Q4

Sources

  1. FN2 corporate events calendar, resolved from the earnings calendar feed
  2. FN2 earnings calendar analyst consensus
  3. Earnings call transcript analysis, FY2026 Q3

Methodology

The report date comes from FN2's resolved corporate-events calendar and is marked estimated until the company confirms it. Consensus figures are the calendar's latest analyst estimates for the fiscal period and are not an FN2 forecast.

Risks and open questions are carried forward verbatim from FN2's structured analysis of the previous earnings call. Missing values stay missing and are never estimated.

By FN2 Research · Updated . For educational purposes only; not investment advice.