CVS shares rise after earnings and sales beat consensus
CVS Health Corp.
CVS, + 0.82%
shares rose 2.6% in Tuesday premarket trading after the pharmacy retailer reported third quarter earnings and sales that beat consensus. Net income totaled $ 1[ads1].39 billion, or $ 1.36 per share, up from $ 1.29 billion, or $ 1.26 per share, last year. Adjusted EPS was $ 1.73. Revenues totaled $ 47.3 billion, up from $ 46.2 billion. And same-store sales rose 6.7% with pharmacy same-store sales up 8.7%. The FactSet consensus was for EPS of $ 1.71, revenue of $ 47.2 billion, and same-store sales growth of 5.4%. Pharmacy same-store sales were forecast to be up 7.6%. CVS continues to expect full-year EPS or $ 1.40 to $ 1.50 and adjusted EPS of $ 6.98 to $ 7.08. The FactSet guidance is for EPS or $ 7.04. CVS shares have gained 1.6% for the year to date while the S & P 500 index
SPX, + 0.56%
is up 2.4% for the period.
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