CVS Health reported $4.6 billion in 2024 profit including $1.6 billion in the fourth quarter as its health insurance business works to overcome rising medical expenses.

CVS Health’s adjusted fourth-quarter profit handily beat Wall Street’s estimates, even as the drugstore chain and pharmacy benefits manager dealt with rising costs in its insurance division

CVS is trying to turn around its drugstore chain and insurance business. The company spent a smaller percentage of premium revenue on medical expenses than analysts expected.