CVS Health (CVS) Q4 2025 revenue rises 8%; adjusted earnings decline

Healthcare solutions company CVS Health Corporation (NYSE: CVS) on Monday reported an increase in revenues for the fourth quarter of fiscal 2025. Meanwhile, adjusted earnings declined during the quarter.

Fourth-quarter revenues rose 8.2% to $105.7 billion from $97.7 billion in the corresponding quarter last year, driven by growth across all operating segments.
Earnings, adjusted for special items, declined to $1.09 per share from $1.19 per share in the year-ago quarter. Unadjusted net income was $2.92 billion or $2.30 per share in Q4, compared to $1.63 billion or $1.30 per share in the fourth quarter of 2024.

For fiscal 2025, management continues to expect earnings in the range of $5.94 per share to $6.14 per share. It also reaffirmed the guidance for full-year adjusted earnings per share in the $7.00 -$7.20 range. The forecast for cash flow from operations has been revised to at least $9.0 billion from the previous guidance of $10.0 billion.

“Our fourth quarter and full-year results demonstrate the progress we are making in transforming the health care experience with our unique collection of businesses. From lowering drug prices, to improving navigation of health care, to being the front door of care across our country, we are well positioned to achieve our ambition to be the most trusted health care company in America,” said David Joyner, the company’s CEO.