CVS Health's Health Services And Pharmacy Benefit Management Business Show Strength In Q3, But Lowers Annual GAAP EPS Outlook
Portfolio Pulse from Vandana Singh
CVS Health Corp's Q3 sales increased by 10.6% Y/Y to $89.76 billion, beating the consensus of $88.25 billion. Adjusted EPS was $2.21, up from $2.17 a year ago. The company's pharmacy and consumer wellness segment saw revenue grow 6% to $26.29 billion. However, CVS Health revised its GAAP EPS to $6.37-$6.61 from $6.53-$6.75. CVS shares are down 4.61% at $65.83 during the premarket session.
November 01, 2023 | 1:02 pm
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CVS Health Corp reported strong Q3 results with sales and EPS beating consensus. However, the company lowered its annual GAAP EPS outlook.
CVS Health's strong Q3 results indicate a positive performance across all segments. However, the company's decision to lower its annual GAAP EPS outlook could negatively impact investor sentiment, leading to a potential decrease in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100