CVS Health Corp. shares CVS,
little changed in the pre-market negotiations on Tuesday, after the drugstore and health benefits company reported fourth quarter earnings and revenues that exceeded expectations. Net income fell to $ 973 million, or 74 cents per share, from $ 1.75 billion, or $ 1.34 per share, in the prior year period. Excluding non-recurring items, adjusted earnings per share fell from $ 1.73 to $ 1.30, but exceeded the FactSet consensus of $ 1.24. Total revenue increased 4.0% to $ 69.55 billion, above the FactSet consensus of $ 68.73 billion. Among CVS ‘business segments, all exceeded expectations, with pharmacy services revenue falling 1.9% to $ 36.36 billion amid continued price compression, retail revenue / long-term care increasing 6 , 6% to $ 24.06 billion and health benefits revenue rising 11.4% to $ 19.10 billion. For 2021, CVS expects adjusted earnings per share from $ 7.39 to $ 7.55, compared to the FactSet consensus of $ 7.54. The company said it administered more than 3 million COVID-19 vaccines in more than 40,000 long-term care facilities. The stock gained 1.0% in the last three months, while the S&P 500 SPX,
advanced 8.5%.
