CVS Health (CVS) - Get CVS Health Corporation Report shared nudged higher Thursday after the group reiterated its full-year profit outlook ahead of a series of investor meetings scheduled for the remainder of June.
CVS said its early-May forecast for 2022 earnings in the region of $8.20 to $8.40 per share still stands, with revenues pegged between $304 billion and $309 billion. The group's cash flow from operators guide also remains unchanged at $12 billion to $13 billion, the company said.
CVS posted stronger-than-expected earnings of $2.22 per share for the three months ending in March, an 8.8% increase from the same period last year, as as Aetna continued to power gains in the group's healthcare benefit division and retail traffic held up well despite slowing Covid testing and vaccinations.
Group revenues, CVS said, rose 11.1% from last year to $76.8 billion, again topping analysts' estimates of a $75.4 billion tally, a same-store sales rise 10.7%. Pharmacy store sales rose 10.1%, both benefiting from the group's administering of 8 million Covid vaccinations and a further 6 million tests over the three month period.
https://www.thestreet.com/markets/cvs-stock-nudges-higher-as-group-reiterates-2022-profit-forecast
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