CVS Health Corp (NYSE:CVS) stock fell 1.24% (As on February 11, 11:23:00 AM UTC-4, Source: Google Finance) after the company reported fourth-quarter results that exceeded analyst expectations. The Pharmacy & Consumer Wellness segment showed strong performance with a 12.4% revenue increase in the fourth quarter, driven by higher prescription volume and favorable pharmacy drug mix. Same-store prescription volume increased 9.7% on a 30-day equivalent basis. The Health Services segment, which includes the company’s PBM business, saw revenues increase 9.0% in the fourth quarter, while the Health Care Benefits segment reported a 10.1% revenue increase but faced an adjusted operating loss due to changes in Medicare Part D seasonality from the Inflation Reduction Act.

Meanwhile, CVS Pharmacy successfully completed the transition to cost-based reimbursement across its Commercial, Third-Party Discount, Medicare and Medicaid businesses. Aetna continues to improve the experience for health care professionals and their patients, approving more than 95% of all eligible prior authorizations within 24 hours, with many completed instantaneously. Caremark closes out 2025 with significant customer wins and strong retention, providing momentum into 2026.

CVS in the fourth quarter of FY25 has reported the adjusted earnings per share of $1.09, beating the analysts’ estimates for the adjusted earnings per share of $1. The company had reported the adjusted revenue growth of 8.2 percent to $105.7 billion in the fourth quarter of FY25, beating the analysts’ estimates for revenue of $103.63 billion. Adjusted operating income decreased 4.8% in the three months ended December 31, 2025 and increased 20.6% in the year ended December 31, 2025.

Additionally, Medical membership as of December 31, 2025 of 26.6 million decreased 112,000 members compared with September 30, 2025 reflecting declines in the individual exchange product line, partially offset by an increase in Commercial ASC membership. Medical membership as of December 31, 2025 decreased 504,000 members compared with December 31, 2024, reflecting declines in the individual exchange and Government product lines, partially offset by an increase in Commercial ASC membership. Same store prescription volume increased 9.7% and 8.0% on a 30-day equivalent basis for the three months and year ended December 31, 2025, respectively, compared to the prior year.

However, the company reduced its 2026 cash flow from operations (CFO) guidance to at least $9.0 billion from the previous target of at least $10.0 billion. CVS maintained its full-year 2026 adjusted EPS guidance range of $7.00 to $7.20, which aligns with analyst expectations of $7.17.