What to Expect From CVS Health's Q2 2026 Earnings Report

With a market cap of $131.2 billion, CVS Health Corporation (CVS) delivers a wide range of services through its Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. It provides insurance products, pharmacy benefit management, and retail pharmacy services to individuals, employers, and government programs.

The Woonsocket, Rhode Island-based company is slated to announce its fiscal Q2 2026 results before the market opens on Wednesday, Aug. 5. Ahead of the event, analysts expect CVS to report an adjusted EPS of $1.86, up 2.8% from $1.81 in the year-ago quarter. It has surpassed Wall Street's bottom-line estimates in each of the past four quarterly reports.

For fiscal 2026, analysts predict CVS Health to post adjusted EPS of $7.44, a 10.2% rise from $6.75 in fiscal 2025. Moreover, adjusted EPS is expected to grow 12.5% year-over-year to $8.37 in fiscal 2027.

Shares of CVS Health have surged 57.9% over the past 52 weeks, outpacing both the S&P 500 Index's ($SPX) 20.3% gain and the State Street Health Care Select Sector SPDR ETF's (XLV) 18.5% return over the same period.

CVS Health shares rose 7.7% on May 6 after the company raised its full-year 2026 adjusted EPS guidance to $7.30 - $7.50 from the prior forecast, with the new midpoint of $7.40 well above analysts' estimate, driven by stronger medical cost controls at Aetna and improved profitability at its Caremark pharmacy benefit manager. The company also reported stronger-than-expected Q1 2026 adjusted EPS of $2.57, revenue increased to $100.4 billion, and Aetna posted a medical loss ratio of 84.6%.

Analysts' consensus rating on CVS stock is bullish, with an overall "Strong Buy" rating. Among 24 analysts covering the stock, 20 recommend a "Strong Buy,” two have a "Moderate Buy" rating, and two give a "Hold" rating. The average analyst price target is $107.08, indicating a potential upside of nearly 3% from the current levels.