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CVS Health (CVS) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 1, 2025
CVS Health (CVS) reported revenue of $94.6B for the first quarter 2025 (Q1 2025), +7% from a year earlier and -3% from the quarter before. Operating margin was 3.6%, net earnings $1.8B (1.9% of revenue).
CVS Health, Q1 2025: revenue $94.6B (+7% year over year), operating margin 3.6%, net earnings $1.8B, operating cash flow $4.6B. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $94.6B | -3% | +7% |
| Operating profit | $3.4B | +42% | +49% |
| Net earnings | $1.8B | +10% | +59% |
| Operating cash flow | $4.6B | +145% | -7% |
| Free cash flow | $3.8B | +249% | -9% |
What changed
Revenue was $94.6B in Q1 2025, up 7% year over year and down 3% from the previous quarter.
Operating profit was $3.4B, a 3.6% margin (up 1.0 points year over year). Of the extra revenue versus a year earlier, 18% reached operating profit, above the 3% margin then. Total costs grew 6% against revenue growth of 7%. Net earnings were $1.8B, up 60% year over year. The effective tax rate was 31.9%.
Operating cash flow was $4.6B (down 7% year over year), 256% of net earnings. Non-cash charges added back $1.2B of depreciation and amortization and $0.13B of share-based compensation. Working capital and other items added $1.5B. Capital expenditures of $0.74B left free cash flow of $3.8B.
Questions
What was CVS Health's revenue in the first quarter 2025?
CVS Health (CVS) reported revenue of $94.6B for the first quarter 2025 (Q1 2025), +7% from a year earlier and -3% from the quarter before.
Was CVS Health profitable in the first quarter 2025?
Operating profit was $3.4B (3.6% of revenue) and net earnings $1.8B.
Source: CVS Health 10-Q on SEC EDGAR.