Loading...
Market
What will CVS's Q4 2024 Medical Loss Ratio be?
2
Resolution / Starting Odds
Below 91% • 25%
91% to 93% • 25%
94% to 95% • 25%
Above 95% • 25%
CVS's official earnings report or financial news outlets like Bloomberg or Reuters
Story
CVS Replaces CEO Karen Lynch with David Joyner as Earnings Miss; Shares Plunge 13%
Oct 18, 2024, 10:36 AM
CVS Health Corp. has appointed longtime executive David Joyner as its new President and Chief Executive Officer, replacing Karen Lynch who stepped down following a tumultuous tenure and an agreement with the board. The leadership change coincides with the company's warning of lower third-quarter earnings, citing medical cost trends exceeding prior projections, including a Medical Loss Ratio of 95% versus expectations of 91%. Preliminary Q3 adjusted earnings per share are expected to be between $1.05 and $1.10, significantly below estimates and the company's previous outlook issued in August. The healthcare giant is backing away from its 2024 guidance amid a hit to its Medicare Advantage business. Following the announcements, CVS shares sank as much as 13%, reflecting investor concerns over the company's financial performance and strategic direction.
View original story
Similar markets
Below 90% • 25%
90% to 95% • 25%
Above 95% • 25%
Other • 25%
Below 90% • 25%
90% to 92% • 25%
93% to 95% • 25%
Above 95% • 25%
Revenue increases • 25%
Revenue decreases • 25%
Net income increases • 25%
Net income decreases • 25%
Below $1.00 • 25%
$1.00 to $1.10 • 25%
$1.11 to $1.20 • 25%
Above $1.20 • 25%
Less than $90 billion • 25%
$90 billion to $95 billion • 25%
$95 billion to $100 billion • 25%
More than $100 billion • 25%
Below $1.00 • 25%
$1.00 to $1.50 • 25%
Above $1.50 • 25%
Other • 25%