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CVS Health: 2Q Earnings Snapshot

Last Updated Aug 5, 2020 at 6:58 am EDT

WOONSOCKET, R.I. (AP) _ CVS Health Corporation (CVS) on Wednesday reported second-quarter earnings of $2.98 billion.

On a per-share basis, the Woonsocket, Rhode Island-based company said it had profit of $2.26. Earnings, adjusted for one-time gains and costs, were $2.64 per share.

The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.93 per share.

The drugstore chain and pharmacy benefits manager posted revenue of $65.34 billion in the period, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $64.09 billion.

CVS Health expects full-year earnings in the range of $7.14 to $7.27 per share.

CVS Health shares have dropped 13% since the beginning of the year, while the Standard & Poor’s 500 index has risen slightly more than 2%. The stock has risen 19% 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 https://www.zacks.com/ap/CVS

The Associated Press

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