CVS HEALTH CORPORATION - CVS STOCK NEWS

CVS Health (NYSE: CVS) announced that Executive Vice President and CFO Shawn Guertin will participate in a fireside chat at the Bank of America Healthcare Conference on May 12, 2022, at 8:40 am Pacific Time. The event will be available via an audio webcast on the Investor Relations section of the CVS Health website, where it will be archived for one year. CVS Health is a top health solutions company, emphasizing affordable health services and community engagement through over 300,000 employees.

CVS Health is offering no-cost heart health screenings at its MinuteClinic locations from May 8 to May 14, coinciding with National Women's Health Week. This initiative aims to educate women about cardiovascular disease, which is the leading cause of death among women. Alongside screenings, CVS will provide special offers on health products for ExtraCare Rewards members. The company continues its support for the American Heart Association's Go Red for Women movement through in-store fundraising from May 1 to May 28 to enhance awareness and resources for women's health.

CVS Health Corporation reported a strong performance for Q1 2022, with total revenues reaching $76.8 billion, a growth of 11.2% year-over-year. GAAP diluted EPS was $1.74, while adjusted EPS stood at $2.22, reflecting a $0.18 increase. The company generated $3.6 billion in cash flow from operations and announced a 10% dividend increase. However, operating income fell by 2.4% due to a legal settlement accrual for opioid claims valued at $484 million. Full-year adjusted EPS guidance was raised to $8.20 to $8.40.

CVS Health has completed the installation of time delay safe technology in all 97 CVS Pharmacy locations in Nevada. This initiative aims to reduce pharmacy robberies and the diversion of controlled substances, particularly opioids. Previous implementations in other states showed a 50-70% decrease in robberies. The company supports local law enforcement efforts against organized retail crime and has launched a Safe Medication Disposal Program across Nevada, collecting nearly 29,000 pounds of unwanted medications.

CVS Health has successfully installed time delay safe technology in all 198 CVS Pharmacy locations in Arizona. This initiative aims to reduce pharmacy robberies and prevent the diversion of controlled substances, including opioids. The time delay mechanism will electronically delay access to safes, enhancing safety for employees and customers. CVS had previously noted a 70% reduction in robberies in Indianapolis after introducing this technology. The rollout aligns with efforts to combat organized retail crime and complements CVS's ongoing community health initiatives.

Biofourmis has achieved unicorn status following a $300 million Series D investment led by General Atlantic, with participation from CVS Health and other investors. The funds will enhance Biofourmis' virtual care solutions, including personalized in-home care, and expand clinical trials for digital therapies. Former Medtronic CEO, Dr. Omar Ishrak, has been appointed Chairman of the Board. The company aims to strengthen its presence in the value-based care market, focusing on improving patient outcomes while reducing costs.

CVS Health (NYSE: CVS) will hold a conference call on May 4, 2022, at 8:00 a.m. ET to discuss its first quarter 2022 financial results. The call will be accessible via an audio webcast on the CVS Health Investor Relations website, where the recording will be archived for a year. CVS Health is a leading health solutions provider, employing approximately 300,000 colleagues, including more than 40,000 physicians and pharmacists. The company focuses on improving health access, lowering costs, and enhancing patient care.

CVS Health announced its 2021 Environmental, Social and Governance (ESG) report, titled Healthy 2030, outlining initiatives for health equity and sustainability. Key achievements include:

• Health Zones initiative addressing social determinants of health
• Over 1,700 free health screenings for underserved communities
• 50% of waste diverted from landfills
• 33,500 MWh energy savings
• Minimum wage increased to $15/hour from July 2022

This marks the 15th annual report following various global sustainability standards.