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CVS Takes It Up a Notch

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What happened?

CVS is on a roll. The pharmacy retailer beat analysts’ third-quarter expectations, and they’ve just announced a new CEO.

Meet the next Fortune 500 CEO. Karen Lynch will be the next CEO of CVS, making her the 40th female CEO on the Fortune 500 list. Congrats Karen!

  • Karen’s goals include making healthcare more accessible and affordable while driving better health outcomes for consumers and communities.

Healthy earnings. CVS Health reported a 3.5% increase in revenue during the third quarter.

  • Q3 revenue reached 67.06 billion, increasing from the $64.1 billion from 2019’s third quarter.
  • Earnings per share reached $1.66, versus the $1.33 expected.

How does it affect my wallet?

CEO diversity. The number of female CEOs has been gradually increasing, but they still only represent 8% of CEOs in the Fortune 500 list.

Biz model transition. CVS is still working towards becoming a single-stop health destination.

  • CVS currently has 450 stores and plans on having 600 HealthHubs open by 2021.

Published 11/09/2020

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