CVS Health Posts an Earnings Beat and Lifts Fiscal-Year Guidance

barron's2022-05-04

CVS Health reported first-quarter adjusted earnings that topped analysts’ forecasts and the company raised its earnings range outlook for the fiscal year.

CVS posted first-quarter adjusted earnings of $2.22 a share. Revenue rose 11.2% to $76.83 billion.

Analysts surveyed by FactSet expected CVS (ticker: CVS) to earn an adjusted $2.17 a share on sales of $75.5 billion. A year earlier, the company reported a profit of $2.04 a share on sales of $69.1 billion.

The stock fell 0.2% in premarket trading Wednesday to $95.82.

CVS said in a press release Wednesday that it expects fiscal-year adjusted earnings of $8.20 to $8.40 a share. It previously expected earnings of $8.10 to $8.30.

CVS also confirmed its cash flow from operations guidance range of $12 billion to $13 billion.

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