CVS Health: 3Q Earnings Snapshot
WOONSOCKET, R.I. (AP) _ CVS Health Corporation (CVS) on Tuesday reported third-quarter profit of $1.39 billion.
The Woonsocket, Rhode Island-based company said it had profit of $1.36 per share. Earnings, adjusted for amortization costs and non-recurring costs, came to $1.73 per share.
The results surpassed Wall Street expectations. The average estimate of 19 analysts surveyed by Zacks Investment Research was for earnings of $1.71 per share.
The drugstore chain and pharmacy benefits manager posted revenue of $47.27 billion in the period, also topping Street forecasts. Nineteen analysts surveyed by Zacks expected $47.19 billion.
CVS Health expects full-year earnings in the range of $6.98 to $7.08 per share.
CVS Health shares have climbed nearly 2 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased slightly more than 2 percent. The stock has climbed slightly more than 6 percent in the last 12 months.