CVS Health Q3 2026 Earnings Due Wednesday With Medicare Margins and Aetna Performance in Focus

CVS Health is set to report third-quarter 2026 results on Wednesday, November 4, before the market opens, with analysts and investors closely watching Aetna's medical benefit margins, Caremark pharmacy benefit retention, overall membership trends, and the potential impact of 340B drug reimbursement changes. The company enters the report on a streak of six consecutive earnings-per-share beats and after raising its full-year 2026 guidance following a strong second quarter, in which total revenues reached $106.1 billion, up 7.3% year over year, with adjusted EPS of $2.58.

The Wall Street consensus heading into the print calls for third-quarter adjusted EPS of $1.62, representing a 1.3% increase year over year, on revenues of approximately $105.04 billion, which would mark 2.1% growth. Analysts expect continued Aetna margin recovery and strength in government health programs, though persistent 340B headwinds and membership declines in some segments remain real risks.

Jim Cramer described CVS as "too cheap to ignore" ahead of the report, a characterization that reflects the stock's compressed valuation despite its operating scale. Dividend-focused investors have also been highlighted for the stock's income potential, with shares trading near the $102 level based on options activity. The November 4 conference call is scheduled for 8:00 a.m. ET.