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CVS Health (CVS) earnings Q1 2026

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CVS Health (CVS) earnings Q1 2026

A screen displays the logo and trading information for CVS at the New York Stock Exchange, March 24, 2026.

Jeenah Moon | Reuters

CVS Health on Wednesday blew past first-quarter earnings and revenue estimates and raised its 2026 guidance, as its once-troubled insurance business showed improvement. 

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CVS, which operates the nation’s largest pharmacy chain, sees full-year profit coming in between $7.30 and $7.50 per share. That’s up from a previous guidance of $7 to $7.20 per share. 

The company also expects revenue of at least $405 billion in 2026, up from its prior outlook of at least $400 billion. 

The majority of that $5 billion increase is “reflective of the tail winds we’re seeing” for insurer Aetna, CVS CFO Brian Newman said in an interview with CNBC.

All of the healthcare giant’s business segments — insurance, its retail pharmacy and health services unit —surpassed Wall Street’s revenue expectations. But Aetna’s results are likely top of mind for investors, who have watched high medical costs batter major health insurers for the last two years. 

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The results indicated continued progress in CVS’ broader turnaround plan, which has involved cutting $2 billion in costs, closing underperforming stores, shuffling leadership and reducing costs within privately run Medicare Advantage plans.

“From an investor lens, we said let’s put out realistic, reasonable targets and then find pathways to outperform. And we did that throughout at the end of last year and the quarter,” Newman said. “So to beat and raise, which I think is probably the fourth or fifth consecutive, it feels like we’re delivering on that.”

“So confident in the year, but still taking a cautious or prudent view,” he added, noting that medical costs are still too high.

Shares of CVS rose more than 7% on Wednesday.

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Here’s what CVS reported for the first quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG: 

  • Earnings per share: $2.57 adjusted vs. $2.20 expected
  • Revenue: $100.43 billion vs. $95.09 billion expected

The company posted net income of $2.94 billion, or $2.30 per share, for the first quarter. That compares with net income of $1.78 billion, or $1.41 per share, for the same period a year ago. 

Excluding certain items, such as restructuring charges and capital losses, adjusted earnings were $2.57 per share for the quarter.

CVS booked sales of $100.43 billion for the first quarter, up 6.2% from the same period a year ago, as all three of its business segments showed growth. 

CVS’ report also adds to an overall solid first quarter for the broader health insurance sector, though the second quarter will prove even more crucial for those companies as they get a clearer read on medical costs. 

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Insurance unit shows improvement

The insurance business brought in $35.97 billion in revenue during the quarter, up around 3% from the first quarter of 2025. That came in higher than the $33.28 billion that analysts were expecting, according to StreetAccount. 

Newman attributed the quarter’s performance to Aetna’s underlying strength, citing organizational changes to processes or technology that have enabled the company to “do things more efficiently.”

Aetna and other insurers have grappled with higher-than-expected medical costs over the past year as more Medicare Advantage patients return to hospitals for procedures they delayed during the pandemic. Medical costs remain high, but Aetna and other insurers appear to be becoming better equipped to manage the trend, as many cut membership and benefits for patients and exit unprofitable markets. 

The insurance segment’s medical benefit ratio — a measure of total medical expenses paid relative to premiums collected — decreased from the prior year to 84.6% from 87.3%. A lower ratio typically indicates that a company collected more in premiums than it paid out in benefits, resulting in higher profitability.

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Analysts expected a ratio of 86.3%, according to StreetAccount. 

Newman said medical costs are not improving, but CVS has internal programs to “take cost out of the way we do work.” He noted that the company can better forecast medical cost trends, saying he is happy “we’re not getting a lot of surprises.”

But Newman said CVS now needs to focus on using the same tools to reduce medical costs.

In a release, CVS also said the year-over-year improvement in the unit was due to the lack of a so-called premium deficiency reserve, which was recorded in the same period in 2025. That refers to a liability that an insurer may need to cover if future premiums are not enough to pay for anticipated claims and expenses.

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CVS’ pharmacy and consumer wellness division posted $31.99 billion in sales for the first quarter, relatively flat from the year-ago period. Analysts expected sales of $31.70 billion, StreetAccount estimates said. 

That unit dispenses prescriptions in CVS’ more than 9,000 retail pharmacies and provides other services, such as vaccinations and diagnostic testing.

The company’s health services segment generated $48.24 billion in revenue for the quarter, up 11% from the same period a year earlier.

That unit includes the pharmacy benefits manager Caremark, which negotiates drug discounts with manufacturers on behalf of insurance plans, creates lists of medications, or formularies, that are covered by insurance, and reimburses pharmacies for prescriptions.

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Yindjibarndi, Fortescue prepare for landmark compensation ruling

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Yindjibarndi, Fortescue prepare for landmark compensation ruling

A long-running feud between Fortescue and the Yindjibarndi people will reach its close next week, with the miner or state government potentially on the hook for billions of dollars in compensation for damaging country without consent.

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Eaton Earnings Hit Record on AI Power Demand. Disappointing Guidance Sends the Stock Lower.

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Eaton Earnings Hit Record on AI Power Demand. Disappointing Guidance Sends the Stock Lower.

Eaton Earnings Hit Record on AI Power Demand. Disappointing Guidance Sends the Stock Lower.

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Chilling Theory Suggests Masked Suspect May Already Be Dead as Search Hits 95 Days

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Nancy Guthrie

TUCSON, Ariz. — Nearly 95 days after 84-year-old Nancy Guthrie vanished from her Catalina Foothills home in a suspected abduction, investigators remain locked in a complex case with few public breakthroughs, while criminal experts float a disturbing new theory: the masked “Porch Guy” captured on her doorbell camera may himself have been killed to silence him.

Pima County Sheriff’s Office and the FBI continue to describe the investigation as active and ongoing, with DNA analysis, surveillance review and public tips still driving the probe. No suspect has been publicly named, and Nancy Guthrie’s whereabouts remain unknown despite a $1 million family reward and extensive searches.

Guthrie, mother of NBC’s “Today” co-anchor Savannah Guthrie, was last seen Jan. 31, 2026. She was reported missing Feb. 1 after family members could not reach her. Authorities found blood on the front porch, a back door propped open and chilling footage of an armed, masked individual tampering with her doorbell camera around 2 a.m. Her pacemaker lost connection shortly afterward.

Disturbing New Theory From Experts

In a NewsNation special hosted by senior correspondent Brian Entin, forensic and profiling experts raised the possibility that the suspect seen on camera — often dubbed “Porch Guy” — may no longer be alive. Dr. Ann Burgess, a pioneering criminal profiler who worked with the FBI’s Behavioral Analysis Unit, suggested the operation appeared professional yet contained amateur elements consistent with a hired operative later eliminated by a “boss” to cover tracks.

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“The person we see at the front door could be dead … killed by someone else … killed by the boss,” Entin summarized during the expert roundtable. Burgess noted the planning involved but pointed to the lack of further communication or demands as unusual for a standard ransom kidnapping.

Other experts, including criminal psychologist Dr. Gary Brucato, have speculated about multiple perpetrators working under a lead organizer. The theory aligns with earlier neighbor accounts suggesting at least two or three people may have been involved, possibly using the front-door distraction while accessing the property another way.

Investigation Updates and Challenges

As the case passed the three-month mark on May 1, the Pima County Sheriff’s Office reiterated its commitment. “This is an active and ongoing investigation, and we continue to work closely with our partners at the FBI,” a spokesperson said. DNA evidence recovered from the scene, including hairs and other items, has been sent for advanced FBI laboratory analysis.

FBI Director Kash Patel recently commented on early handling of the case, noting the bureau was reportedly kept out for several days, which delayed advanced forensic work. Local officials have pushed back, saying cooperation improved quickly. Brian Entin reported that coordination between agencies has since strengthened.

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Ransom-style notes have surfaced, with Savannah Guthrie publicly stating in March she believes at least some were genuine. However, no verified proof of life has emerged, leading some experts to question whether the notes were opportunistic or part of the original plan.

Recent surveillance footage from a nearby home showing a masked individual stealing plants has circulated but authorities say it is not believed connected to the abduction.

Family’s Ongoing Agony

Savannah Guthrie returned to “Today” in early April, describing the emotional toll while expressing gratitude for public support. The family has cooperated fully and been cleared as suspects. They continue to urge anyone with information to come forward.

The $1 million reward remains active. Tips have poured in, but sifting through them has proven challenging amid false leads and conspiracy theories that have added to the family’s pain.

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Possible Motives Under Scrutiny

Profilers have explored several angles: financial gain, retribution possibly linked to Savannah Guthrie’s public profile, or a targeted operation involving someone with indirect familiarity. Dr. Burgess and others have noted the case’s unique elements, describing it as a “type of case that we’ve never seen before.”

Speculation has included possible links to Mexico, though unverified. Nancy Guthrie’s age, pacemaker and need for medication raise urgent concerns about her survival if still alive.

Community and National Attention

The affluent Catalina Foothills neighborhood remains on edge. Residents have installed additional security and shared footage. The case has drawn national fascination, with true crime enthusiasts and media outlets dissecting every detail.

As the search nears 100 days, experts warn that time works against resolution in abduction cases. Yet authorities stress that cold cases can break with a single tip or forensic match. Advanced DNA techniques offer hope even months later.

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Public appeals continue for any video, sightings or information from late January and early February in the Tucson area. The FBI and sheriff’s office maintain dedicated tip lines.

The disappearance of Nancy Guthrie has become one of 2026’s most haunting mysteries — a case blending high-profile family ties, sophisticated surveillance evidence and deepening questions about what really happened that night. While theories multiply, the central plea remains unchanged: bring Nancy home.

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Wells Fargo Advisors Adds to String of New Recruits With $1.6 Billion UBS Team

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Wells Fargo Advisors Adds to String of New Recruits With $1.6 Billion UBS Team

Wells Fargo’s brokerage unit recruited another financial advisor team that oversaw $1.6 billion in client assets at UBS, adding to Wells Fargo’s string of recent hires. The team, called AGT Private Wealth Group, joined Wells Fargo in Frisco, Texas on Friday.

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Rising costs, EV push may pressure Hero MotoCorp margins despite strong Q4

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Rising costs, EV push may pressure Hero MotoCorp margins despite strong Q4
ET Intelligence Group: Hero MotoCorp delivered a strong March quarter on a year-on-year basis, but sequential performance remained subdued as rising input costs weighed on profitability. In addition, intense competition and rising momentum in sales of the low-margin EV segment are expected to dent margins further in the coming quarters. The company’s EV market share nearly doubled to 11.2% in the March quarter from 6.1% a year ago, driven by new launches and the rollout of battery-as-a-service (BaaS) to improve affordability.

The company’s cost structure has been spiralling upwards, affected by input cost inflation and higher labour, logistics, and advertising expenses amid intense competition. The advertising and promotion spending rose 22% in FY26 compared with 18% increase in FY25. Though the company raised product prices recently, it may not be able to fully cover the incremental costs. In addition, promotional costs are expected to rise further in the current fiscal year given the company’s push on launching new models. The company, however, believes the cost pressure is transitory. It has iterated the medium-term guidance of 14-16% for operating margin before depreciation and amortisation (Ebitda margin). It reported a 30 basis point expansion in the margin at 14.7% margin for FY26.

Costs Weigh, but Hero Moto Expects to Stay on CourseAgencies

It’s a Long road: Input cost inflation and higher labour, logistics, and ad expenses are denting margins, but co believes pressure will be transitory

The company’s electric vehicles (EV) division, despite its growing market share and long-term relevance, continues to operate at a lower margin than the core internal combustion engine (ICE) operations. Hero Moto is in the investment phase for EVs with heavy spending on product development, network expansion and capacity build up. On a positive side, its EV losses are gradually narrowing on a per-unit basis as volumes scale up, costs moderate and benefits from incentive schemes increase, though the segment is still some distance away from turning profitable.
On demand front, Hero Moto enters FY27 on a firm footing, extending the recovery seen in the second half of the previous year. It expects the two-wheeler industry to grow at high single-digit in FY27, with scooters growing faster than motorcycles, aided by structural trends such as urbanisation, e-commerce and the gig economy. Hero MotoCorp expects to outperform the industry, supported by a strong pipeline of launches across scooters, premium motorcycles and EVs.

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In 'Musk v Altman', this judge will make the final call

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In 'Musk v Altman', this judge will make the final call

The feud has fuelled a costly showdown between two tech titans.

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Bulls return to D-Street as falling oil prices ease geopolitical jitters

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Bulls return to D-Street as falling oil prices ease geopolitical jitters
Mumbai: India’s equity indices rose over 1% each on Wednesday in a late surge, logging their strongest single-day gain in nearly three weeks, after reports of a possible US-Iran accord led to an 8% plunge in oil prices. “The biggest hero and villain of this story are oil prices, which plummeted on easing tensions, and stoked optimism,” said Lakshmi Iyer, group president and chief executive, Bajaj Alternates. “Investors cheered the possibility of a resolution of war between the US and Iran.”
Screenshot 2026-05-07 061655Agencies

Easing Volatility
This “has been hanging like a sword over markets,” said Iyer.

The NSE Nifty 50 advanced 1.2%, or 298.15 points, to close at 24,330.95, while the S&P BSE Sensex climbed 1.2%, or 940.73 points, to 77,958.52.

Brent crude futures dropped to around $100.7 a barrel, after holding above the $100 level for nearly two weeks, with the US and Iran said to be closing in on an agreement to end the war in the Gulf. US President Donald Trump, however, warned that if Iran doesn’t agree to US demands, bombing will resume at a “higher level and intensity.”

The fall in oil prices boosted global sentiment.
South Korea surged 6.5%, while China and Hong Kong rose 1.2% each. Taiwan added 0.9% and Japan gained 0.4%.
Iyer said oil prices remain pivotal and a sustained move below the $100-a-barrel mark could extend the rally, while failure to do so may keep markets range-bound.
Back home, volatility eased. The India VIX dropped 6.9% to 16.7, closing below 17 for the first time since the onset of the conflict, signalling lower near-term risk expectations. The rebound on Wednesday helped shrug off the recent lethargy.

“Nifty was struggling to sustain at higher levels in the past eight sessions and the rebound in Wednesday’s session pushed it above a cluster of averages at 24,000 levels, and the index surpassed 24,300 levels,” said Nilesh Jain, vice president, head of technical and derivative research, Centrum Finverse.

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Jain expects the index to move toward 24,500-24,600 levels in the near term, supported by follow-through buying, with dips likely to be bought.

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OECD sees fragile New Zealand recovery; warns on energy, ageing and capital-market gaps

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OECD sees fragile New Zealand recovery; warns on energy, ageing and capital-market gaps


OECD sees fragile New Zealand recovery; warns on energy, ageing and capital-market gaps

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Former Yankee Mariano Rivera says he supports MLB salary cap

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Former Yankee Mariano Rivera says he supports MLB salary cap
Mariano Rivera says he supports an MLB salary cap

Former New York Yankee and Hall of Fame closer Mariano Rivera said he believes Major League Baseball should adopt a salary cap in its next collective bargaining agreement.

“Yes, there should be one, because it has to be fair to everybody,” Rivera said during a Latinos in Sports event in Miami on Friday. “It makes the competition better.”

The MLB collective bargaining agreement, or CBA, expires at the end of this season, setting up negotiations between the league and its players. Talks are expected to begin in the coming weeks.

It’s notable for a player — even a retired one, like Rivera — to publicly support a salary cap. Rivera, himself, made about $170 million over his 19-year career, according to Baseball-Reference.com.

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Former New York Yankee closer Mariano Rivera.

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MLB is the only major U.S. league without a salary cap. The delta between teams that spend the most and those that spend the least has grown in recent years as the New York Mets, Los Angeles Dodgers and the Yankees, among others, continue to expand payroll.

A record 11 teams opened the season with payrolls of at least $200 million, according to a USA Today analysis.

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Rivera said any salary cap should include provisions that the teams that spend the least also invest in improving competition in some other way. MLB currently has a revenue sharing program that distributes local media money equally to all 30 teams.

“If I’m giving you money — from my pocket to you — to make the team better, I believe you should do that and not pocket it,” Rivera said.

Subscribe to the CNBC Sport podcast to listen to the full interview with Mariano Rivera. New episodes drop Thursday at 6 a.m. ET.

The 10 lowest-spending teams in MLB have increased their payrolls by just 1.7% annually on average since 2019, according to the Wall Street Journal. This has led many to believe that the fix for an uneven league isn’t a salary cap, but rather a salary floor that would force small-market teams to spend.

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The MLB Players Association has long fought a cap in an effort to maximize player salaries, including during a 1994-95 strike.

But current MLB rules allow for massive variation in team spending. And there have been a number of studies supporting a correlation between spending and winning.

“We have a significant segment of our fans that have been vocal about the issue of competitive balance,” MLB commissioner Rob Manfred said earlier this year. “And in general, we try to pay attention to our fans.”

There have also been credible studies that say the competitive balance issues in MLB aren’t worse than in any other sport. In the past 10 MLB seasons, there have been seven different World Series winners, 13 different teams have reached the World Series and 18 teams have advanced to the semifinals. Those figures suggest a league that has better competitive balance than the NBA, NFL or NHL.

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DoorDash, Inc. (DASH) Q1 2026 Earnings Call Transcript

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

Operator

Ladies and gentlemen, thank you for joining us, and welcome to the DoorDash Q1 2026 Earnings Call. [Operator Instructions]

I will now hand the call over to Weston Twigg. Weston, please go ahead.

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Weston Twigg
Vice President of Finance & Investor Relations

All right. Thank you, Elizabeth. Good afternoon, everyone, and thanks for joining us for our Q1 ’26 earnings call. I’m pleased to be joined today by Co-Founder, Chair, and CEO, Tony Xu; and CFO, Ravi Inukonda. We’ll be making forward-looking statements during today’s call, including, without limitation, our expectations for our business, financial position, operating performance, profitability, our guidance, strategies, capital allocation approach and the broader economic environment.

Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those described. Many of these uncertainties are described in our SEC filings, including our most recent Form 10-K and 10-Q. You should not rely on our forward-looking statements as predictions of future events or performance. We disclaim any obligation to update any forward-looking statements, except as required by law.

During this call, we will discuss certain

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