CVS Health Cuts 2024 Adjusted EPS Guidance To At Least $7.00 From At Least $8.30 Versus Consensus Of $8.27
Portfolio Pulse from Benzinga Newsdesk
CVS Health has revised its 2024 adjusted EPS guidance downwards to at least $7.00 from the previous forecast of at least $8.30, against a consensus of $8.27. This adjustment is due to the expectation that the utilization pressure experienced in the Health Care Benefits segment in the first quarter will continue throughout 2024.
May 01, 2024 | 10:34 am
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CVS Health has lowered its 2024 adjusted EPS guidance to at least $7.00, down from at least $8.30, due to ongoing utilization pressure in its Health Care Benefits segment.
The downward revision in CVS Health's EPS guidance for 2024 is a significant indicator of expected financial strain, primarily attributed to the utilization pressure in the Health Care Benefits segment. This news is likely to negatively impact investor sentiment and the stock price in the short term, as the new guidance is substantially lower than the previous forecast and the consensus estimates.
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