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CVS Health Reports 7% Decrease in Profit in Q2 Earnings

By USinMinutes - Aug 07, 2024, 06:34 AM ET
Last Updated - Aug 08, 2024, 05:54 PM EDT
CVS Health Reports 7% Decrease in Profit in Q2 Earnings

Q2 Revenues Up by 2.6% for CVS Health in Latest Earnings Release

CVS Health Corporation [CVS] reported a profit of $1.77 billion in the second quarter ending June 30, 2024. This figure represents a 7% decrease from the previous quarter's profit figure. The company's quarterly earnings update showcases its financial performance during the specified period.

The company, headquartered in Woonsocket, Rhode Island, reported to SEC in an 8-K filing $1.41 earnings per share in the quarter, compared to $1.48 in the previous quarter.

CVS Health Corporation, a prominent company in the healthcare sector, reported revenues of $91.2 billion. This represents a 2.6% increase compared to the previous quarter. The company's financial results showcase its growth trajectory within the industry.

In comparison to the same quarter of the previous year, CVS Health Corporation's revenue for the current quarter has increased by approximately 2.6%. Additionally, the company's profit for the current quarter reflects a 9.6% decrease when compared to the same quarter of the previous year. These figures indicate the company's financial performance over the specified period.

Cvs Health Corp [CVS]
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56.47 (-1.53)

As of August 7, 2024 end of day trading.

Dollars in millions
Jun 30, 2024    Mar 31, 2024    Dec 31, 2023    Sep 30, 2023   

Income Statement

Revenue $91,234.0  $88,437.0  $357,776.0  $89,764.0 
Operating Profit $3,045.0  $2,271.0  $13,743.0  $3,690.0 
Net Income $1,768.0  $1,124.0  $8,368.0  $2,265.0 
Net Cash $4,295.0  $1,582.0  -$4,780.0  $70.0 
Gross Margin $41,236.0  $40,364.0  $140,678.0  $35,076.0 
Operating Margin $0.0  $0.0  $0.0  $0.0 
Profit as % of Revenues2332.35 3591.10 39.32 39.08 
Profit as % of Assets1.03 0.66 3.50 0.94 
Profit as % of Stockholder Equity2.35 1.52 10.92 3.04 
Return on Equity2.35 1.52 10.92 3.04 
Return on Assets0.70 0.45 3.35 0.90 
Turnover Ratio53.09 52.30 1.50 0.37 
EBITA$3,045.0 $2,271.0     

Balance Sheet

Total Assets $252,481.0  $249,743.0  $249,728.0  $251,306.0 
Total Liabilities $177,370.0  $175,593.0  $173,092.0  $176,796.0 

Cash Flow Statement

Operating Cash Flow $7,992.0  $4,903.0  $13,426.0  $16,062.0 
Investing Cash Flow -$3,719.0  -$2,094.0  -$20,889.0  -$19,647.0 
Financing Cash Flow $22.0  -$1,227.0  $2,683.0  $3,655.0 
 
USinMinutes is an offering of 10kInfo, Inc., bringing you news on the latest regulatory filings. Although we take care to ensure accuracy, the article does not intend to replace user diligence in decisions of financial or legal implications.
 

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