CVS blows past estimates, hikes outlook as insurance business outperforms

A screen displays the logo and trading information for CVS at the New York Stock Exchange, March 24, 2026. Jeenah Moon | Reuters CVS Health on Wednesday blew past first-quarter earnings and revenue estimates and raised its 2026 guidance, as its once-troubled insurance business showed improvement. CVS, which operates the nation's largest pharmacy chain, sees full-year profit coming in between $7.30 and $7.50 per share. That's up from a previous guidance of $7 to $7.20 per share. The company also expects revenue of at least $405 billion in 2026, up from its prior outlook of at least $400 billion. The majority of that $5 billion increase is "reflective of the tailwinds we're seeing" for insurer Aetna, CVS CFO Brian Newman said in an interview with CNBC. All of the health-care giant's business segments, including insurance, its retail pharmacy and health services unit, surpassed Wall Street's revenue expectations. But Aetna's results are likely top of mind for investors, who have watched high medical costs batter major health insurers for the last two years. The results indicated continued progress in CVS's broader turnaround plan , which has involved cutting $2 billion in costs, closing underperforming stores, shuffling leadership and reducing cost s within privately run Medicare Advantage plans. "From an investor lens, we said let's put out realistic, reasonable targets and then find pathways to outperform. …