Item 7.01 Regulation FD Disclosure.



Members of CVS Health Corporation's (the "Company's") senior management team are
scheduled to meet with investors during the remainder of September 2020. While
continuing to acknowledge the inherent and unprecedented uncertainty surrounding
the ongoing coronavirus disease 2019 ("COVID-19") pandemic and its impact, the
senior management team will discuss a revision to the Company's full year 2020
GAAP diluted earnings per share ("EPS") guidance range to $5.16 to $5.29 from
$5.59 to $5.72, reflecting the estimated loss on early extinguishment of debt
during the third quarter of 2020. The senior management team will also discuss
that the Company will maintain its previously announced full year 2020 Adjusted
EPS (1) guidance range of $7.14 to $7.27 and its full year 2020 cash flow from
operations guidance range of $11.0 billion to $11.5 billion.

(1)GAAP diluted EPS and Adjusted EPS, respectively, are calculated by dividing
net income attributable to CVS Health (GAAP measure) and adjusted income
attributable to CVS Health by the Company's weighted average diluted shares
outstanding. The Company defines adjusted income attributable to CVS Health as
net income attributable to CVS Health excluding the impact of amortization of
intangible assets and other items, if any, that neither relate to the ordinary
course of the Company's business nor reflect the Company's underlying business
performance, such as acquisition-related integration costs, losses on early
extinguishment of debt, gains/losses on divestitures, the corresponding income
tax benefit or expense related to the items excluded from adjusted income
attributable to CVS Health, and any other items specifically identified herein.
The following table reconciles projected GAAP diluted EPS to projected Adjusted
EPS:

Year Ending December 31, 2020


                                                                                  Low                   High
Projected GAAP diluted EPS (GAAP measure)                                 $           5.16          $    5.29
Non-GAAP adjustments (per share):
Amortization of intangible assets                                                     1.76               1.76
Acquisition-related integration costs                                                 0.34               0.34
Loss on early extinguishment of debt                                                  0.58               0.58
Gain on divestiture of subsidiary                                                    (0.17)             (0.17)
Income tax benefit                                                                   (0.53)             (0.53)

Projected Adjusted EPS                                                    $           7.14          $    7.27

Weighted average diluted shares outstanding (in millions)                            1,320              1,320



The Company uses non-GAAP financial measures to analyze underlying business
performance and trends. The Company believes that providing these non-GAAP
financial measures enhances the Company's and investors' ability to compare the
Company's past financial performance with its current performance. These
non-GAAP financial measures are provided as supplemental information to the
financial measures that are calculated and presented in accordance with GAAP.
Non-GAAP financial measures should not be considered a substitute for, or
superior to, financial measures determined or calculated in accordance with
GAAP. The Company's definitions of its non-GAAP financial measures may not be
comparable to similarly titled measures reported by other companies.

Cautionary Statement Concerning Forward-Looking Statements



The Private Securities Litigation Reform Act of 1995 provides a safe harbor for
forward-looking statements made by or on behalf of CVS Health Corporation.
Statements in this Current Report on Form 8-K that are forward-looking include
CVS Health's full year 2020 per share projections for net income attributable to
CVS Health, adjusted income attributable to CVS Health, amortization of
intangible assets, acquisition-related integration costs, losses on early
extinguishment of debt, gains/losses on divestitures, and the income tax benefit
related to items excluded from adjusted income attributable to CVS Health, as
well as full year 2020 cash flow from operations and the weighted average
diluted shares outstanding for the year ending December 31, 2020. By their
nature, all forward-looking statements are not guarantees of future performance
or results and are subject to risks and uncertainties that are difficult to
predict and/or quantify. Actual results may differ materially from those
contemplated by the forward-looking statements due to the risks and
uncertainties related to the COVID-19 pandemic, the

--------------------------------------------------------------------------------



geographies impacted and the severity and duration of the pandemic, the
pandemic's impact on the U.S. and global economies and consumer behavior and
health care utilization patterns, and the timing, scope and impact of stimulus
legislation and other federal, state and local governmental responses to the
pandemic, as well as the risks and uncertainties described in our Securities and
Exchange Commission ("SEC") filings, including those set forth in the Risk
Factors section and under the heading "Cautionary Statement Concerning
Forward-Looking Statements" in the Company's most recently filed Annual Report
on Form 10-K and its Quarterly Report on Form 10-Q for the quarterly period
ended June 30, 2020.

You are cautioned not to place undue reliance on CVS Health's forward looking
statements. CVS Health's forward-looking statements are and will be based upon
management's then-current views and assumptions regarding future events and
operating performance, and are applicable only as of the dates of such
statements. CVS Health does not assume any duty to update or revise
forward-looking statements, whether as a result of new information, future
events, uncertainties or otherwise.

© Edgar Online, source Glimpses