CVS Health reported a significant miss in its Q1 2024 earnings, with adjusted EPS of $1.31 against an estimated $1.69 and revenue of $88.4 billion, missing the expected $89.33 billion. Comparable sales increased by 5.3%, but adjusted operating income fell short at $2.96 billion against an expected $3.58 billion. The company also revised its full-year adjusted EPS guidance downward from at least $8.30 to $7.00, citing elevated medical cost trends, particularly from its Aetna Medicare Advantage business. CVS CEO expressed confidence in addressing these challenges. Following the announcement, CVS stock dropped significantly, ranging from 11% to 17%. CVS plans to undertake significant pricing actions to mitigate these challenges.