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Home Economie

CVS Health tops Wall Street estimates in the fiscal fourth quarter.

by souhaib
February 16, 2021
in Economie
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CVS Health tops Wall Street estimates in the fiscal fourth quarter.
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CVS Health Corp. (NYSE: CVS) reported its financial results for the fiscal fourth quarter on Tuesday that topped analysts’ estimates for profit and revenue.

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CVS Health shares, that you can learn to buy online here, were reported just under 1.5% down in premarket trading on Tuesday. Including the price action, the stock is now trading at £53.69 per share versus a low of £37.56 per share in March 2020 when COVID-19 restrictions were at their peak.

CVS Health’s Q4 financial results versus analysts’ estimates


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CVS Health said that its net income in the fourth quarter came in at £698.82 million that translates to 53.15 pence per share. In the same quarter last year, its net income had printed at a sharply higher £1.26 billion or 96 pence per share. In comparison, the U.S. firm had recorded £930 million of net income in the prior quarter (Q3).

Adjusted for one-time items, the American healthcare company earned 93 pence per share in Q4 versus the year-ago figure of £1.24 per share. CVS Health valued its revenue in the recent quarter at £49.95 billion, that represents a 4.0% year over year increase.

According to FactSet, experts had forecast the company to post £49.36 billion of revenue in the fourth quarter. Their estimate for adjusted per-share earnings stood at a lower 89 pence.

Other prominent figures in CVS Health’s earnings report on Tuesday include £26.11 billion of revenue from pharmacy services or 1.9% lower than last year. Retail revenue saw a 6.6% annualised growth to £17.28 billion in Q4. Health care benefits revenue, as per the Woonsocket-based company, registered at £13.72 billion – an 11.4% increase from the comparable quarter of last year. All business segments of CVS Health noted better-than-expected revenue in the recent quarter.

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CVS Health Corp’s guidance for fiscal 2021

For fiscal 2021, the retail pharmacy chain now forecasts its adjusted earnings per share to fall in the range of £5.31 to £5.42. Analysts are also calling for £5.41 of full-year adjusted EPS for CVS Health.

According to CVS Health, it has so far administered over 3 million COVID-19 vaccines in more than 40 thousand long-term care facilities.

CVS Health performed slightly downbeat in the stock market last year with an annual decline of close to 8%. At the time of writing, it is valued at £69.76 billion and has a price to earnings ratio of 12.25.



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