Tuesday, April 23, 2024
HomeFinancialCVS Well being (CVS) This autumn 2021 earnings beat expectations

CVS Well being (CVS) This autumn 2021 earnings beat expectations

A teen receives her Pfizer Covid-19 booster at a CVS pharmacy in New York Metropolis on Jan. twentieth, 2022.

Adam Jeffery | CNBC

CVS Health stated Wednesday that demand for at-home Covid assessments and booster pictures lifted general retailer gross sales, serving to the corporate high expectations for fourth-quarter earnings.

Shares fell lower than 1% in premarket buying and selling.

The pharmacy chain and well being insurer reiterated its fiscal 2022 forecast, saying it expects earnings from persevering with operations to vary between $7.04 to $7.24 per share and adjusted earnings to vary between $8.10 to $8.30 per share.

This is what the corporate reported for the three-month interval ended Dec. 31, in contrast with what analysts had been anticipating, based mostly on a survey of analysts by Refinitiv:

  • Earnings per share: $1.98 adjusted vs. $1.93 anticipated
  • Income: $76.60 billion vs. $75.67 billion anticipated

CVS reported fiscal fourth-quarter web revenue of $1.31 billion, or 99 cents per share, up from $973 million, or 74 cents per share, a yr earlier.

The corporate stated its web revenue from persevering with operations was 98 cents. But it surely earned $1.98 per share, after changes, which was greater than the $1.93 per share anticipated by analysts surveyed by Refinitiv.

Whole income for the interval rose to $76.60 billion from $69.55 billion a yr earlier, exceeding expectations of $75.67 billion.

CVS stated it noticed increased prescription volumes, front-of-store gross sales and vaccinations at its shops throughout the three month interval. It stated it additionally benefited from the expansion of specialty pharmacy.

It administered greater than 8 million Covid assessments and greater than 20 million Covid vaccines throughout the nation within the fourth quarter, a major leap in vaccinations from the 11.6 million it administered in the third quarter.

Shares of CVS are up 51% over the previous 12 months and touched a 52-week excessive on Tuesday. Shares closed Tuesday at $110.83, up 1.3%. The corporate’s market worth is $146.30 billion.

Read the company’s press release here.

Source link



Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Recent Comments