CVS Health Stock Jumps After Mixed Q3 Earnings, Takes $1.2 Billion Restructuring Charges Hit

CVS Health Corp (NYSE:CVS) reported third-quarter sales of $95.43 billion, beating the consensus of $92.75 billion. 

Total revenues increased 6.3%, primarily driven by growth in the Health Care Benefits and Pharmacy & Consumer Wellness segments, partially offset by a decline in the Health Services segment.

Adjusted EPS of $1.09 (inline with preliminary guidance of $1.05-$1.10) decreased from $2.21 in the prior year, missing the consensus of $1.53. The fall was primarily due to a decline in the Health Care Benefits segment’s operating results, which reflects continued utilization pressure and premium deficiency reserves of approximately $1.1 billion, related to anticipated losses in the fourth quarter of ...