WOONSOCKET, R.I. (AP) – CVS Health Corporation (CVS) on Tuesday reported fourth-quarter earnings of $1.5 billion.
The Woonsocket, Rhode Island-based company said it had profit of $1.34 per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, came to $1.53 per share.
The results met Wall Street expectations. The average estimate of 19 analysts surveyed by Zacks Investment Research was also for earnings of $1.53 per share.
The drugstore chain and pharmacy benefits manager posted revenue of $41.15 billion in the period, beating Street forecasts. Twenty analysts surveyed by Zacks expected $41.02 billion.
For the current quarter ending in April, CVS Health expects its per-share earnings to range from $1.14 to $1.17. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.19.
The company expects full-year earnings in the range of $5.73 to $5.88 per share.
CVS Health shares have dropped slightly more than 8 percent since the beginning of the year, while the Standard & Poor’s 500 index has declined slightly more than 9 percent. The stock has dropped 11 percent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CVS at http://www.zacks.com/ap/CVS
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Keywords: CVS Health, Earnings Report, Priority Earnings