Walgreens Boots Alliance reported its fiscal third-quarter 2025 earnings with adjusted EPS of $0.38, surpassing the estimated $0.31, and revenue of $39.0 billion, beating the consensus estimate of $36.79 billion. U.S. retail pharmacy sales reached $30.7 billion, above the expected $28.98 billion, while U.S. healthcare sales were $2.1 billion, meeting estimates. Despite growth in U.S. healthcare, the company noted weakness in front-end retail and recorded a net loss of $175 million. Due to the pending Sycamore deal, Walgreens withdrew its full-year guidance and skipped its earnings call. Johnson & Johnson posted Q2 2025 adjusted EPS of $2.77, exceeding the $2.68 estimate, with sales of $23.74 billion, above the $22.84 billion forecast. The company raised its full-year sales outlook to $93.2 billion–$93.6 billion from a prior range of $91 billion–$91.8 billion and adjusted EPS guidance to $10.80–$10.90, up from $10.50–$10.70, citing strong operational performance and favorable foreign exchange. Its Innovative Medicine and MedTech segments showed robust growth despite the loss of exclusivity for Stelara. CVS Health reported second-quarter 2025 revenue of $98.92 billion, exceeding the $94.50 billion estimate, and adjusted EPS of $1.81, above the $1.46 consensus. The company raised its full-year adjusted EPS guidance to $6.30–$6.40 from $6.00–$6.20, driven by strong performance in its retail pharmacy and Aetna health insurance businesses. CVS noted a medical benefit ratio of 89.9% and recorded $833 million in litigation charges in Q2. CEO David Joyner highlighted the durable recovery in Aetna, strong retention at CVS Caremark, and growth momentum at CVS Pharmacy as key contributors to the results.