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CVS Health (CVS) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 5, 2026
CVS Health (CVS) reported revenue of $106.1B for the second quarter 2026 (Q2 2026), +7% from a year earlier and +6% from the quarter before. Operating margin was 4.4%, net earnings $3.0B (2.8% of revenue).
CVS Health, Q2 2026: revenue $106.1B (+7% year over year), operating margin 4.4%, net earnings $3.0B, operating cash flow $6.3B. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $106.1B | +6% | +7% |
| Operating profit | $4.7B | +0.5% | +98% |
| Net earnings | $3.0B | +1% | +196% |
| Operating cash flow | $6.3B | +49% | +234% |
| Free cash flow | $5.7B | +66% | +338% |
What changed
Revenue was $106.1B in Q2 2026, up 7% year over year and up 6% from the previous quarter.
Operating profit was $4.7B, a 4.4% margin (up 2.0 points year over year). Of the extra revenue versus Q2 2025, 32% reached operating profit, above the 2% margin then. Total costs grew 5% against revenue growth of 7%. Net earnings were $3.0B, up 192% year over year. The effective tax rate was 24.7%.
Operating cash flow was $6.3B (up 234% year over year), 212% of net earnings. Non-cash charges added back $1.1B of depreciation and amortization and $0.18B of share-based compensation. Working capital and other items added $2.0B. Capital expenditures of $0.69B left free cash flow of $5.7B.
Questions
What was CVS Health's revenue in the second quarter 2026?
CVS Health (CVS) reported revenue of $106.1B for the second quarter 2026 (Q2 2026), +7% from a year earlier and +6% from the quarter before.
Was CVS Health profitable in the second quarter 2026?
Operating profit was $4.7B (4.4% of revenue) and net earnings $3.0B.
Source: CVS Health 10-Q on SEC EDGAR.