CVS Health beats Q4 expectations, but trims annual outlook as costs rise
ABC News
CVS Health’s fourth-quarter profit fell as the drugstore chain and pharmacy benefits manager dealt with increased operating costs
CVS Health's fourth-quarter profit fell as the drugstore chain and pharmacy benefits manager dealt with increased operating costs. Still, its adjusted profit and revenue beat Wall Street's estimates.
The Woonsocket, Rhode Island-based company also trimmed its full-year adjusted earnings forecast, citing the possibility of higher medical costs.
For the three months ended Dec. 31, CVS Health earned $2.05 billion, or $1.58 per share. A year earlier, it earned $2.33 billion, or $1.77 per share.
Stripping out certain items, earnings were $2.12 per share. This topped the $2.01 per share that analysts polled by Zacks Investment Research were calling for.
Revenue climbed to $93.81 billion from $83.85 billion, beating analysts' estimates for revenue of $90.8 billion.
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