to you, Thank joining us Karen, and this for everyone thanks morning.
billion approximately quarter, were adjusted $X We quarter. first operating $XX the of X% an of delivered approximately billion, our In the income of EPS $X.XX. over and revenues approximately increase prior year adjusted
result lower cash billion, also quarter to We to same flow primarily of generated due from of a year, timing compared Medicare payments. operations last the the $X.X
a focused executing goals Each and delivering their their of financial against our whole segments on enterprise and the targets. on are as
Care utilization Clearly, the of enterprise materially Benefits for results are Health is this our result disappointing pressured experiencing. being us. that However, a Advantage we and Medicare level by are
Let of me you understand some them year. walk expect the remainder you help of how the drivers and impact through to the we
Benefits XX.X Care X.X by million, growth sequentially, products, approximately we of Medical Individual Health segment, members of Medicaid up of year-over-year. billion, million $XX redeterminations. the in impact delivered membership group our Commercial and revenues XX% partially was an In Exchange increase Medicare, approximately reflecting offset
quarter operating This benefit was higher by investment $XXX net fixed ratio, higher income to the first cost leverage million. due medical result partially and growth. income membership favorable of reflects a offset for Adjusted impact the
payment medical prior year. increased premium year primarily prior Our utilization, for XX.X% quarter, and XXXX XXX lower to as prior ratio benefit of basis from compared year unfavorable Advantage development points the year reflecting Ratings impact Stars of Medicare the the higher
utilization. drivers increases cost the we into trends, Advantage of meaningful Digging saw in Medicare
to appeared of but at end to we be continue outpatient the discussed in and exceeded in supplemental see categories earlier and, elevated We expectations. categories in which the some benefits, that the trends XXXX, including cases, moderating completed levels quarter, same at
benefits from in first new XXXX. first pressure, saw Adding per pressures vaccines quarter benefits. RSV quarter to X,XXX the we and outpatient up versus emerge admits of the inpatient were other single the and Inpatient pharmacy digits high categories, supplemental
we because the seasonality implementation to of While a as expectations of have the portion of result Two-Midnight the this pandemic. Rule, inpatient increase quarter patterns this start our seen meaningfully of was returned the anticipated for the not since exceeded
higher we business, Medicaid member our by from largely driven medical acuity pressures, cost redeterminations. In experienced
ensure rates reflected the going closely working are partners are We forward. our state to with our underlying in trends
not consistent of shown Inpatient pressures projections. overall Mental remain trends performance although the than cost Medicare. our block in years. days with elevated, prior Medical our and have we higher same favorable bed is Commercial business experiencing are pharmacy to trends expectations, commercial in but the are health
but and exchange membership with payables lower Individual elevated, in projected medical revenue are costs consistent mix are XXXX.
business achieve goals remains on to profit this year. Individual Exchange its target Our
blocks closely, our to prior their monitor both projections. with to We of will consistent continue performance is these date but
pharmacy and items. is by impact of which to payable reduce complete XX.X and the XX%. sequentially were at and driven quicker DCP, reserves claims X.X the Days This both as membership growth decrease approximately seasonal days, tend primarily of end days quarter as other well trends, Premiums grew higher sequentially. typical down the
And DCP remain our confident our As a of reserves. the reserving reminder, in is output of process. we an adequacy overall,
that we consistent Healthcare saw which paid the restoration backlog with of from April, activity, multiple early In Change disruption. is days high the and associated claim of
XX could impact reserve will into March interim While development, positive known disruption that several not of Healthcare Change which our suggests of levels the stable be outlook. months, is current most our show balances our the recent and for modest are reporting not incorporated final
large pharmacy a pharmacy offset segment and drug primarily decrease and Our mix, the revenue partially was billion, a price Health. $XX of Health of year-over-year, XX% generated Signify the of and previously nearly This acquisitions continued client specialty Street Health improvements. by of in Services by approximately loss announced decrease client growth pharmacy driven Oak
XX% nearly XXXB loss the primarily was driven pharmacy declined partially Adjusted by and Total operating previously was claims decrease XXX purchasing pharmacy pharmacy total offset of the year-over-year, members. improved and a in billion income client. of by quarter end nearly lower This improvements, price large a million million, from the continued contributions approximately $X.X quarter client were membership of announced XX processed as approximately economics. of
We Oak with Street ended in to of assets. Care Health increase compared year-over-year. centers continue revenue quarter an our drive the the Delivery generated quarter centers, growth year. XX% to same XXX of growth XX Signify last
quarter compared We members XXX,XXX, to increased Street Street to the Oak increase XX revenue an in year. in ended same quarter, at quarter year-over-year. continue to XX% significantly add Oak XXXX. XX,XXX XX the at to expect of also growing centers the last over At-risk
PCW In we increased on nearly revenue Drivers prior & X% of of an segment, decrease this billion, count with offset growth versus introductions, Wellness volume and of contributions OTC well our same-store year reflecting pharmacy pressure, drug were and segment increase Pharmacy contributions the X% a $XX a generated the basis. over revenue included These in reimbursement by approximately increased mix. the store of increases recent continued from lower vaccinations prescription partially test from kits. impact as as revenue generic in Consumer
including expenses, prior store of continued volume, an the year, reimbursement purchasing partially by impact operating lower closures. drug pressure. income $X.X was billion, X% by increase increased versus offset approximately Adjusted prescription the and driven were of These increases pharmacy improved operating approximately
nearly but Same-store over by up test the X% X%. store same by increased were sales pharmacy quarter OTC X% down kits. last and year, sales X% the Same-store year, versus versus prior same-store up when about front were excluding prescription volumes
As was emergency still of first active last the during a reminder, the health year. public quarter
capital our and position. to Shifting liquidity
First quarter with $X.X billion subsidiaries. was We cash the flow the parent from billion. cash $X.X of quarter operations approximately and at ended unrestricted
quarterly In shareholders returned the million first quarter, dividend. we to through $XXX our
the in repurchase share accelerated billion million We to quarter. repurchase for XX $X the approximately of additional our transaction, remainder completed also retiring XXXX. any do We shares expect not shares
This than expect ratings. of our ratio to to at Our committed was a the maintain higher current We quarter normalized the maintaining was end leverage remain on leverage approximately basis. ratio Xx. investment-grade we
our Turning for outlook XXXX. now to year full
mentioned, As EPS results quarter guidance at updated first revised XXXX. our we remainder as our Karen adjusted our reflect to expectations for least the XXXX as to $X of well
Health Care least income down of $X.X points ratio our adjusted operating segment, approximately least $X.X of from now previous to our billion, increase guidance. expect at of billion. now previous be In from medical We expect XXXX our basis benefit our XXX Benefits we XX.X%, an guidance at
estimate quarter roughly million attributable our Benefits quarter, medical expectations. primarily first above that in further, that Advantage, break we costs, of the Care the specific Health much we respiratory that million Medicare $XXX and including periods. or approximately In to costs and seasonality If the $XXX came down pre-pandemic of seasonal to patterns to that more inpatient look RSV larger-than-expected a impact variance seasonal, like is return
early As to our pre-COVID mentioned, for patterns. their April Karen and inpatient seasonality indicators return projections authorization current support
also will The on that based million approximately first trend in persist quarter experience half of our our for assumes the elevated the cost raised by utilization remaining remainder first now for of quarter. in pressure our $XXX guidance medical have RSV-related XXXX. the We driven the is second costs expectations in
more pressure this supplemental volumes, some categories, mental is outpatient and full the and as increased primary The this in million expense previous as are such Partially medical income, we projected such better-than-expected of approximately which in drivers include roughly management offsetting expected our net first with to variance $XXX investment than as service of half well guidance, together assumed quarter. of offset dental. pharmacy, contribute as benefits year occurring this health
this least updating are predominantly health is billion, delivery, CVS operating at Services by Accountable utilization we for our pressure. in $XXX driven Health decrease XXXX and The some of of adjustment segment, our estimate a attributable income million. to adjusted $X In our to approximately majority business, Care out-of-period care Medicare
We also for a updated are including the year of our the The Oak remainder higher on trends for saw quarter of some modest pressure provision during the Street in and utilization on in and guidance. is our in volume other the Services driven by and pressure impact on mix guarantees. ability the client and associated to primarily businesses Health trends segment, deliver our the network remainder
remain the at Pharmacy the on least XXXX the the to year for expectations our Our tax due and front segment activity remainder in be now of approximately billion This outlook X.XXX with billion. same adjusted to & incorporates of slowing operating to first XX.X%. Consumer adjusted quarter. count We share cautious income $X.X approximately Wellness shares store the a stance over consumer activity expect rate be
to expectation for in Finally, flow at we from our billion least operations updated XXXX. cash $XX.X
year. our share for outlook. detailed later to help wanted Investor in this But year, the You thoughts build share on expectations some can guidance find guidance on to next page. effort We plan reasonable we on more investors details our additional to XXXX preliminary Relations our components XXXX updated of web an
billion Benefits, between to Within experience Care billion projected losses. but revenues business significant $XX Medicare Health generate and our in Advantage is XXXX, in will $XX
We are meaningful in committed Advantage driving XXXX. Medicare to in margins our improvements
in target our certain will X%. back Given in could to $XXX also journey million ability our retention X-year XXXX benefits. reduces but Star depending first projected membership performance, step Improved be a margins a to to X- to to X% our levels, XXXX tailwind get the adjust on baseline represent of Ratings
our and facing drug an prescription where function margin we are an substantially coverage that insufficient in liability. in headwinds pricing increase plan notice a improvement from XXXX The of rate changes of remainder environment be will actions
the take benefit XXXX and those for will pricing trends. both to actions cost on and responds We XXXX, depend trends how will design material and impact and in the market of how changes those XXXX develop
momentum. Care Benefits' building strong Health are In business we lines, other
of We've Medicaid margin year planning group this in success the in Exchange and season recently for Individual year were key are selling awarded our We another RFPs. commercial seen several progression business.
of Cordavis PBM is and differential early segment, In our our driving business Services innovative for biosimilar savings encouraging to supports our Health our opportunity, the approach progress customers.
building committed meaningful Delivery XXXX. trajectory Street's are Medicare of by and be business, Care improving we margins Health Advantage and our Oak margin will realignment elevated the Accountable in momentum Care. patient show to continues a benefits as In to supported CVS adjusts enrollment is growth utilization. Signify into market impressive to
to segment. reception [ pharmacy strong received our creates PCW for a our have model new in potential ], outperformance We early which
and accelerating our we are enterprise streamline productivity optimize initiatives multiyear As Karen operations. mentioned, to
a contemplates stable XXXX. count our framework share Finally, in
remain a our including performance double-digit outcomes, XXXX. trends of our potential EPS the distance, XXXX range deliver uncertainties at current compared many as to outlook, subside to this wide low cost drive growth remains While and goal medical that our could baseline that adjusted in
to this committed remains opportunities to team Our guidance. against executing outperform the
With we Operator? now will to questions. open your call the that,
