CVS Health Corporation (NYSE: CVS) announced operation results for the third quarter. Net revenue for the third quarter increased 2.4% to $1.1 billion. Pharmacy services received an increase of 2.6% to $33.8 billion due to growth in pharmacy network and mail choice claim volume as well as brand inflation. Mail choice claim volume was driven by the consistent adoption of Maintenance Choice offerings.
President and Chief Executive Officer Larry Merlo stated, “Strong revenue and adjusted EPS, along with significant cash flow year-to-date, demonstrate our success in driving value. Our year-to-date results continue to validate our confidence in the strength of our model. As we approach the closing of our transformative acquisition of Aetna, our integration teams are making great progress to assure that once final approvals are obtained, we can begin to execute on our integration plans.”
Mr. Merlo continued, “Given CVS Health’s performance year-to-date and our confidence in our expectations for the remainder of this year, we are confirming our stand-alone consolidated operating profit, adjusted EPS and free cash flow guidance for 2018. While CVS and Aetna remain separate companies today, the performance of both companies highlights the very solid financial foundation on which we’ll build our revolutionary new model that will transform the health care experience for consumers and, in the process, deliver substantial value for our shareholders.”