CVS Health: Q1 Earnings Snapshot
WOONSOCKET, R.I. (AP) _ CVS Health Corporation (CVS) on Tuesday reported first-quarter earnings of $2.22 billion.
On a per-share basis, the Woonsocket, Rhode Island-based company said it had profit of $1.68. Earnings, adjusted for one-time gains and costs, came to $2.04 per share.
The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.72 per share.
The drugstore chain and pharmacy benefits manager posted revenue of $69.1 billion in the period, also beating Street forecasts. Seven analysts surveyed by Zacks expected $68.44 billion.
CVS Health expects full-year earnings in the range of $7.56 to $7.68 per share.
CVS Health shares have climbed 14% since the beginning of the year, while the S&P’s 500 index has increased 12%. The stock has risen 30% in the last 12 months.