CVS Health Corporation (CVS) earnings on August 5, 2026

Before the market opens Q2 2026

More CVS Health Corporation earnings

Prior outlook: Pessimistic Outcome: Accurate

CVS shares initially jumped nearly 7% after earnings, but then reversed to close down about 5%, possibly due to news of a new deal with Eli Lilly.

CVS price around the earnings

99.12

Change: -5.1%

2026-08-05, 20:00 UTC

Start of the measured window End of the measured window
93.97 99.64 105.31 110.98 104.42
Price series around the eventClosing price per minute from before the event to the end of the measured window.
August 5, 2026
  • Price: green if it ends above the starting price; red if it ends below
  • Start of the measured window
  • End of the measured window
  • Market open
  • Starting price
Price series around the event

Prior thesis

Prior outlook: Pessimistic Outcome: Accurate

Thesis published
Results released

Strong historical beats are overshadowed by significant Medicare policy headwinds for 2027, leading to a recent negative price trend.

Context analyzed before publication

Trend
Recent days show a significant negative trajectory and underperformance into earnings due to policy concerns.

Analysts

Evidence

Analyst consensus
Strong buy
Consensus average (1-5)
1.44
Analysts covering the stock
25
Average price target
114.88
Lowest price target
94
Highest price target
148
Upside to price target
10%
Quarterly earnings growth
65.4%
Revenue growth
6.1%
Forward EPS
8.43
Trailing EPS
2.26
Analyst moves in the last 60 days
7
  • Strong buy: 6
  • Buy: 18
  • Hold: 3
  • Sell: 0
  • Strong sell: 0
Strong buy
6
Buy
18
Hold
3
Sell
0
Strong sell
0
  • July 25, 2026 · UBS: Maintains rating (Buy → Buy)
  • July 14, 2026 · Truist Securities: Maintains rating (Buy → Buy)
  • July 13, 2026 · Wells Fargo: Maintains rating (Overweight → Overweight)
  • July 9, 2026 · RBC Capital: Maintains rating (Outperform → Outperform)
  • July 7, 2026 · Cantor Fitzgerald: Maintains rating (Overweight → Overweight)
  • June 23, 2026 · B of A Securities: Maintains rating (Buy → Buy)
  • June 8, 2026 · Mizuho: Maintains rating (Outperform → Outperform)

News and sentiment

Evidence

Sentiment
Sentiment
Constructive
Mention volume
High
Normalized volume
99%
News
Sources (4)

Technicals

Evidence

Price when the context was analyzed
104.42
Average true range (ATR)
2.2%
Distance to 52-week high
-5.0%
14-day change (14d)
-5.6%
30-day change (33d)
-0.3%
30-day relative strength
-3.8%
SPY change (33d)
+3.5%
Nearest support
104.38
Distance to nearest support
0%
Nearest resistance
105.43
Distance to nearest resistance
1%
Volume accumulation ratio (14d / 46d)
0.96
  • Mid: 104.38 (0% away, 0.01 ATR, 17 touches)
  • Mid: 103.73 (0.7% away, 0.31 ATR, 12 touches)
  • Mid: 103.15 (1.2% away, 0.56 ATR, 20 touches)
  • Mid: 105.43 (1% away, 0.45 ATR, 29 touches)
  • Minor: 106.29 (1.8% away, 0.83 ATR, 5 touches)
  • Mid: 106.88 (2.4% away, 1.09 ATR, 12 touches)

Trends

Evidence

Average earnings surprise
+16.9%
  • May 6, 2026: actual EPS 2.57 vs estimate 2.21 (surprise +16.5%)
  • February 10, 2026: actual EPS 1.09 vs estimate 1 (surprise +9.4%)
  • October 29, 2025: actual EPS 1.6 vs estimate 1.36 (surprise +17.9%)
  • July 31, 2025: actual EPS 1.81 vs estimate 1.46 (surprise +23.9%)

Expected move

Implied move
+5.3%
Source
Options chain

Reactions over its last 20 earnings

Median move
3.6%
75th percentile move
5.9%
90th percentile move
11.6%
Up / down moves
11 / 9
Average up move
+6.1%
Average down move
-3.9%

Monitoring and close

What CVS Health Corporation reported

Status
Finished
Actual EPS2.58
EPS estimate1.85
EPS surprise+39.5%
Revenue$106,096 million
Revenue estimate$100,114 million
Revenue surprise+6.0%

CVS beat Q2 expectations and raised annual guidance, but shares fell on 340B pressures and disappointing 2027 outlook. New partnership with Eli Lilly for GLP-1 access.

Sources (32)

Pre-market second reading after the results

Verdict
Beat expectations

Heading into the open, results beat expectations on both earnings and revenue, and the price is indicating +0.9% pre-market, a move below the stock's usual reaction (about 4%). The figures don't confirm the prior scenario: that move is too small to draw conclusions from.

How the stock reacted

Outcome
Accurate
Consolidated
-4.9%
Max favorable move (MFE)
10.8%
Max adverse move (MAE)
7%