Followers | 683 |
Posts | 142202 |
Boards Moderated | 35 |
Alias Born | 03/10/2004 |
![](https://investorshub.advfn.com/uicon/35728.png?cb=1539773763)
Wednesday, May 04, 2022 10:06:51 AM
By: TheStreet | May 4, 2022
• "Our strategy improves access to affordable, convenient and personalized health care, which benefits consumers and shareholders,." said CEO Karen Lynch.
CVS Health Corp. (CVS) posted better-than-expected first quarter earnings Wednesday, while boosting its full-year profit guidance, as Aetna continued to power gains in the group's healthcare benefit division and retail traffic held up well despite slowing Covid testing and vaccinations.
CVS said adjusted earnings for the three months ending in March were pegged at $2.22 per share, up 8.8% from the same period last year and firmly ahead of the Street consensus forecast of $2.15 per share. Group revenues, CVS said, rose 11.1% from last year to $76.8 billion, again topping analysts' estimates of a $75.4 billion tally.
Same sore sales were up 10.7% from last year, CVS said, while pharmacy store sales rose 10.1%, both benefiting from the group's administering of 8 million Covid vaccinations and a further 6 million tests over the three month period.
Looking into the 2022 financial year, CVS said its target range for adjusted earnings improved to $8.20 to $8.40 per share, up from its December forecast of of $8.10 to $8.30 per share and revenues of between $304 billion to $309 billion.
"Our strategy improves access to affordable, convenient and personalized health care, which benefits consumers and shareholders,." said CEO Karen Lynch. "We once again showed the power of our purpose and potential, building on our strong momentum and raising full-year guidance as a result."
CVS shares were marked 1% higher in pre-market trading immediately following the earnings release to change hands at $96.95 each.
Pharmacy Services revenues rose 9% to $39.46 billion, CVS said, , "primarily driven by increased pharmacy claims volume, growth in specialty pharmacy and brand inflation, partially offset by continued client price improvements." Retail sales rose 4.9% to $24.4 billion
The group's healthcare benefits division saw sales rise 12.8% to $23.1 billion as it added Aetna's operations to its legacy business.
Read Full Story »»»
![](http://studentaid.gov/universal-navigation/assets/us_flag_small.png)
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
• DiscoverGold
Recent CVS News
- FDA Panel Supports Eli Lilly’s Donanemab, Rio Tinto Expands Stake in Boyne Smelters, and More News • IH Market News • 06/11/2024 11:11:40 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/22/2024 08:30:57 PM
- CVS Health to present at the Bernstein 40th Annual Strategic Decisions Conference • PR Newswire (US) • 05/20/2024 01:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/17/2024 09:42:52 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/17/2024 09:41:52 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/17/2024 09:40:41 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/17/2024 09:39:55 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/17/2024 09:38:46 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/17/2024 09:37:55 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/17/2024 09:37:09 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/17/2024 09:36:14 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/17/2024 09:35:01 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/17/2024 09:33:58 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/17/2024 09:32:33 PM
- CVS Pharmacy® introduces Well Market™, a crave-worthy consumables brand • PR Newswire (US) • 05/16/2024 11:00:00 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/09/2024 08:19:18 PM
- CVS Health survey shows mental health concerns continue to rise • PR Newswire (US) • 05/09/2024 01:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/08/2024 08:40:04 PM
- Form 424B2 - Prospectus [Rule 424(b)(2)] • Edgar (US Regulatory) • 05/08/2024 08:34:36 PM
- Form FWP - Filing under Securities Act Rules 163/433 of free writing prospectuses • Edgar (US Regulatory) • 05/07/2024 08:47:57 PM
- CVS Health to present at the Bank of America 2024 Healthcare Conference • PR Newswire (US) • 05/07/2024 08:00:00 PM
- Form 424B3 - Prospectus [Rule 424(b)(3)] • Edgar (US Regulatory) • 05/07/2024 12:31:39 PM
- Perficient Stock Soars 52.9% Post-Acquisition; Luminar Declines 10% Amid Workforce Cutbacks, and Other News • IH Market News • 05/06/2024 12:09:00 PM
- CVS Health, Starbucks, Shares Weaker; Pinterest Soars • IH Market News • 05/01/2024 01:12:05 PM
- CVS HEALTH CORPORATION REPORTS FIRST QUARTER 2024 RESULTS AND REVISES FULL-YEAR 2024 GUIDANCE • PR Newswire (US) • 05/01/2024 10:30:00 AM
Last Shot Hydration Drink Announced as Official Sponsor of Red River Athletic Conference • EQLB • Jun 20, 2024 2:38 PM
ATWEC Announces Major Acquisition and Lays Out Strategic Growth Plans • ATWT • Jun 20, 2024 7:09 AM
North Bay Resources Announces Composite Assays of 0.53 and 0.44 Troy Ounces per Ton Gold in Trenches B + C at Fran Gold, British Columbia • NBRI • Jun 18, 2024 9:18 AM
VAYK Assembling New Management Team for $64 Billion Domestic Market • VAYK • Jun 18, 2024 9:00 AM
Fifty 1 Labs, Inc Announces Acquisition of Drago Knives, LLC • CAFI • Jun 18, 2024 8:45 AM
Hydromer Announces Attainment of ISO 13485 Certification • HYDI • Jun 17, 2024 9:22 AM