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CVS Health (CVS) Beats On Q3 Earnings, Revenues In Line
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Ever bought medicines or cosmetics over the counter? Yes, then you may have walked into one of the 9,652 retail CVS/pharmacy stores of the largest pharmacy healthcare services provider in the U.S.–CVS Health Corporation (CVS - Free Report) . This Rhode Island-based company has more than 900 walk-in medical clinics–CVS/MinuteClinic and currently possesses a customer satisfaction rate of 95%.
Currently, CVS Health has a Zacks Rank #3 (Hold) but that could change following its third quarter 2017 earnings report which has just released. (You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here). We have highlighted some of the key details from the just-released announcement below:
Earnings: The Zacks Consensus Estimate remained steady at $1.49 per share over the last 60 days.CVS Health’s adjusted earnings per share of $1.50 beat this estimate by a penny. However, this figure decreased from $1.64 in the year ago quarter.
Revenues: CVS Health posted revenues of $46.18 billion up 3.5% y/y, almost in line the Zacks Consensus Estimate for revenues.
Key Stats: For the third quarter CVS Health’s Pharmacy Services segment revenues increased 8.1% year over year to $32.9 billion, while revenues from Retail/LTC segment declined 2.7% year over year to $19.6 billion. During the third quarter, CVS Health opened 56 new retail locations and closed five retail locations. Further, the company relocated five retail locations. As of Sep 30, 2017, CVS health operated 9,751 retail locations, including pharmacies in Target stores, in 49 states, the District of Columbia, Puerto Rico and Brazil.
Major Factors: Management is confident that it will achieve the full-year targets. Operating profit in the Retail/LTC Segment was impacted by the devastating hurricanes. However, operating profit in the Pharmacy Services Segment was in line with the company’s expectations. Meanwhile, the company returned significant value to its shareholders through dividends and share repurchases. Also, the company has updated the adjusted EPS guidance for 2017.
Stock Price: Following the earnings release, share prices decreased 0.07% in the pre-market trading session.
Check back later for our full write up on this CVS Health earnings report later!
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CVS Health (CVS) Beats On Q3 Earnings, Revenues In Line
Ever bought medicines or cosmetics over the counter? Yes, then you may have walked into one of the 9,652 retail CVS/pharmacy stores of the largest pharmacy healthcare services provider in the U.S.–CVS Health Corporation (CVS - Free Report) . This Rhode Island-based company has more than 900 walk-in medical clinics–CVS/MinuteClinic and currently possesses a customer satisfaction rate of 95%.
Currently, CVS Health has a Zacks Rank #3 (Hold) but that could change following its third quarter 2017 earnings report which has just released. (You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here). We have highlighted some of the key details from the just-released announcement below:
Earnings: The Zacks Consensus Estimate remained steady at $1.49 per share over the last 60 days.CVS Health’s adjusted earnings per share of $1.50 beat this estimate by a penny. However, this figure decreased from $1.64 in the year ago quarter.
CVS Health Corporation Price and EPS Surprise
CVS Health Corporation Price and EPS Surprise | CVS Health Corporation Quote
Revenues: CVS Health posted revenues of $46.18 billion up 3.5% y/y, almost in line the Zacks Consensus Estimate for revenues.
Key Stats: For the third quarter CVS Health’s Pharmacy Services segment revenues increased 8.1% year over year to $32.9 billion, while revenues from Retail/LTC segment declined 2.7% year over year to $19.6 billion. During the third quarter, CVS Health opened 56 new retail locations and closed five retail locations. Further, the company relocated five retail locations. As of Sep 30, 2017, CVS health operated 9,751 retail locations, including pharmacies in Target stores, in 49 states, the District of Columbia, Puerto Rico and Brazil.
Major Factors: Management is confident that it will achieve the full-year targets. Operating profit in the Retail/LTC Segment was impacted by the devastating hurricanes. However, operating profit in the Pharmacy Services Segment was in line with the company’s expectations. Meanwhile, the company returned significant value to its shareholders through dividends and share repurchases. Also, the company has updated the adjusted EPS guidance for 2017.
Stock Price: Following the earnings release, share prices decreased 0.07% in the pre-market trading session.
Check back later for our full write up on this CVS Health earnings report later!
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>