CVS Health Tops 4Q Forecasts, Reaffirms 2022 Outlook

COVID-19 vaccines and assessments for the virus helped push CVS Well being previous fourth-quarter expectations.

However the drugstore chain and pharmacy advantages supervisor didn’t elevate the 2022 forecast it specified by December, and shares slid in early-morning buying and selling Wednesday.

CVS Well being Corp. posted adjusted earnings of $1.98 per share within the last quarter of 2021, as complete income grew 10% to $76.6 billion.

Analysts anticipated earnings of $1.83 per share on $75.66 billion in income, in keeping with FactSet.

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CVS Well being stated in December that it anticipated adjusted earnings of $8.10 to $8.30 per share in 2022.

Analysts count on, on common, earnings of $8.27 per share.

CVS Well being operates one of many nation’s largest drugstore chains with almost 10,000 retail areas. It additionally runs prescription drug plans for large shoppers like insurers and employers by a big pharmacy profit administration enterprise along with promoting insurance coverage.

Firm shares shed $1.63 to $109.20 in pre-market buying and selling.

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