Dive Brief:

CVS Health raised its adjusted earnings outlook for the year as performance in the healthcare giant’s insurance unit improved.

The healthcare behemoth now expects adjusted earnings per share from $6.30 to $6.40 on stronger finances in CVS’ health benefits and pharmacy units, compared with compared with an earlier outlook of $6.00 to $6.20.

Adjusted operating income for the health benefits segment rose more than 39% year over year in the second quarter. CVS is “very, very encouraged how the quarter is playing out,” Steve Nelson, president of insurer Aetna, said on a Thursday morning earnings call.

Dive Insight:

The second quarter has proved challenging for a number of insurers. Major payers like Elevance , Molina and UnitedHealth have cut their earnings guidance as

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