Outside view of the CVS Pharmacy store on July 16, 2020 in Miramar, Florida.
Johnny Lewis | Getty Images
CVS health On Wednesday, customers returned to clinics and more typical shopping patterns, surpassing analysts’ expectations for second-quarter earnings and raising their annual forecasts.
The share of drugstore chains and health insurers was up less than 1% in pre-market transactions.
According to the company, the business has begun to normalize as customers buy more products in front of stores and pharmacists fill out more prescriptions. He said the use of medical benefits returned to a more typical pattern as people resumed medical visits and procedures.
Same-store sales in the second quarter increased 12.3% compared to a year ago.
However, as Covid-19 cases increase and delta variants prevail, CVS CEO Karen Lynch said the company continues to work to increase access to vaccines and outreach. ..
CVS said it conducted approximately 17 million Covid-19 vaccines and over 6 million tests in the second quarter.
Based on a Refinitiv analyst survey, the company reported the following during the three months ended June 30th, compared to what analysts expected:
- Earnings per share: Adjusted $ 2.42 expected to be $ 2.06
- Revenue: $ 72.62 billion vs. forecast $ 70.3 billion
CVS’s second-quarter net income fell from $ 2.98 billion ($ 2.26 per share) in the year-ago quarter to $ 2.78 billion ($ 2.10 per share).
Excluding items, we earned $ 2.42 per share, which is higher than the $ 2.06 per share expected by analysts surveyed by Refinitiv.
The company’s revenue surged from $ 65.34 billion in the previous year to $ 72.62 billion, surpassing analysts’ expectations of $ 70.3 billion.
CVS raised the guidance for the year. Revenues in 2021 are expected to range from $ 6.35 to $ 6.45 and are expected to be adjusted to range from $ 7.70 to $ 7.80. Per share.
As of Tuesday’s closing price, CVS’s share has risen about 23% this year. Shares closed at $ 84.00 on Tuesday, bringing the company’s market value to $ 110.59 billion.
CVS Health (CVS) Revenues Q2 2021
Source link CVS Health (CVS) Revenues Q2 2021