CVS Health Corp. (NYSE: CVS) reported its financial results for the fiscal fourth quarter on Tuesday that topped analysts’ estimates for profit and revenue.
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
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.
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.
The post CVS Health tops Wall Street estimates in the fiscal fourth quarter appeared first on Invezz.
from USA – Invezz https://ift.tt/3jTKhRC
Wajeeh Khan
Click here to Join RICH DAD SUMMIT online with ROBERT KIYOSAKI - $1 Training for Passive Income: https://bit.ly/RichDadSummitWealthTraining
0 Comments