WOONSOCKET, R.I. — Strong results in its PBM business provided a boost during CVS Health's fiscal third quarter, with the retailer on Nov. 8 reporting a 23.6% increase in net earnings to $1.5 billion and a revenue increase of 15.5 percent to $6 billion for the period ended Sept. 30. "We posted a solid third quarter with the PBM exceeding our expectations and retail performing at the lower end of our expectations. However, very recent pharmacy network changes in the marketplace are expected to cause some retail prescriptions to begin migrating out of our pharmacies this quarter, said CVS President and CEO Larry Merlo. "In addition, we are currently experiencing slowing prescription growth in the overall market as well as a soft seasonal business. These factors combined are leading us to reduce the mid-point of our guidance for this year by five cents per share. The network changes have more significant implications for our 2017 outlook.