CVS HEALTH Reports Q2 FY2023 Results Ending August 2 2023
August 4, 2023
🌥️Earnings Overview
CVS HEALTH ($NYSE:CVS) reported their second quarter results of FY2023 for the period ending August 2 2023, with total revenue of USD 88.9 billion, a 10.3% year-over-year increase. Despite this, the company’s net income for the same period was USD 1.9 billion, a 35.6% year-over-year decrease, on June 30 2023.
Price History
On Wednesday, CVS HEALTH released their quarterly financial results for the quarter ending August 2, 2023. As the market reacted to the news, the stock opened at $72.5 and closed at $76.4, up 3.3% compared to its last closing price of $74.0. This increase in share price was in large part due to the company’s strong financial performance during the quarter. CVS HEALTH reported strong growth across their key financial metrics.
The news of CVS HEALTH’s strong quarter was welcomed by investors on Wall Street, as reflected in the 3.3% jump in share price seen on Wednesday. This is an encouraging sign of the company’s growth and profitability as they continue into the next quarter and beyond. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Cvs Health. More…
| Total Revenues | Net Income | Net Margin |
| 339.2k | 2.8k | 2.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Cvs Health. More…
| Operations | Investing | Financing |
| 20.52k | -19.8k | 947 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Cvs Health. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 250.07k | 177.07k | 56.73 |
Key Ratios Snapshot
Some of the financial key ratios for Cvs Health are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 8.7% | 1.8% | 1.9% |
| FCF Margin | ROE | ROA |
| 5.2% | 5.5% | 1.6% |
Analysis
At GoodWhale, we have conducted an analysis of CVS HEALTH‘s fundamentals. Based on our Risk Rating, CVS HEALTH has been determined to be a medium risk investment when taking financial and business aspects into consideration. In further examination, we have detected three risk warnings in income statement, balance sheet, and non financial areas. If you are interested in learning more about these risks, you can become a registered user to review all the details. It is important to get informed before making any investment decisions. More…
Peers
The competition between CVS Health Corp and its competitors is fierce. Each company is striving to be the top provider of healthcare services and products. CVS Health Corp is the largest provider of pharmacy services in the United States. Marpai Inc is a close second. Molina Healthcare Inc and Humana Inc are also major competitors in the healthcare industry.
– Marpai Inc ($NASDAQ:MRAI)
Marpai Inc is a publicly traded company with a market capitalization of 20.89 million as of 2022. The company has a return on equity of -64.66%. Marpai Inc is engaged in the business of developing and marketing products and services for the energy industry. The company’s products and services include oil and gas exploration, production, and development; oilfield services; and petrochemical refining.
– Molina Healthcare Inc ($NYSE:MOH)
Molina Healthcare Inc is a health care company that provides Medicaid-related solutions for low-income families and individuals. As of 2022, the company had a market capitalization of 20.52 billion dollars and a return on equity of 24.89%. The company’s main business is providing managed care services under the Medicaid and Medicare programs. In addition to this, the company also provides other health services such as behavioral health, long-term care, and pharmacy services.
– Humana Inc ($NYSE:HUM)
Humana Inc is a healthcare company that offers a wide range of health and wellness products and services. The company has a market cap of 63.3B as of 2022 and a return on equity of 17.4%. Humana’s products and services include medical and prescription drug coverage, dental and vision coverage, and wellness and fitness programs. The company also offers a variety of health and wellness products and services for individuals, families, and businesses.
Summary
Investors should take note of CVS HEALTH‘s second quarter results for FY2023, which ended on August 2nd, 2023. The company reported total revenue of USD 88.9 billion with a 10.3% year-over-year increase, but reported net income of USD 1.9 billion with a 35.6% year-over-year decrease. Despite the decrease in net income, the stock price moved up the same day, indicating that investors may still be bullish on the company. With its strong revenue and expanding portfolio, CVS HEALTH appears to be on track for further growth in the future.
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