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Benzinga
  • 2 years ago
CVS reported fourth-quarter revenue of $93.81 billion, up 12% year-over-year, beating estimates. Adjusted EPS was $2.12 vs an estimated $1.99. The company has reduced its adjusted earnings forecast for 2024 to a minimum of $8.30 per share, a decrease from the earlier projection of at least $8.50 per share, falling short of the expected $8.49 per share. The health services segment saw 12.3% revenue growth to $49.15 billion, beating estimates and driven by specialty pharmacy and acquisitions.
Transcript
00:00 It's Benzinga and here's what's on the block. CVS reported fourth quarter revenue of $93.8
00:05 billion, up 12% year-over-year, beating estimates. Adjusted EPS was $2.12 versus an estimated $1.99.
00:12 The company has reduced its adjusted earnings forecast for 2024 to a minimum of $8.30 per
00:16 share, a decrease from the earlier projection of at least $8.50 a share, falling short of the
00:20 expected $8.49 a share. The health services segment saw a 12.3% revenue growth to $49.1
00:26 billion, beating estimates and driven by specialty pharmacy and acquisitions. Insurance revenue grew
00:31 16% to $26.7 billion, but missed estimates, with the medical benefit ratio rising on increased
00:36 Medicare Advantage utilization. For all things money, visit Benzinga.com.
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