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CVS Health (CVS) Beats Earnings, Misses Revenues in Q2
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Ever bought medicines or cosmetics over the counter? Yes, then you may have walked into one of the 9,652 retail CVS/pharmacy stores of the largest pharmacy healthcare services provider in the U.S. – CVS Health Corporation (CVS - Free Report) . This Rhode Island-based company’s more than 900 walk-in medical clinics–CVS/MinuteClinic currently possess a customer satisfaction rate of 95%.
Currently, CVS Health has a Zacks Rank #4 (Sell) but that could change following its second quarter 2016 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:
Earnings:The Zacks Consensus Estimate remained steady at $1.30 per share over the last 60 days. CVS Health’s adjusted earnings per share of $1.32 beat this estimate by 1.5%.
Revenues:CVS Health posted revenues of $43.7 billion, missing the Zacks Consensus Estimate for revenues of $44.2 billion.
Key Stats: CVS Health’s Pharmacy Services segment revenues increased 20.7% to $29.5 billion, while revenues from Retail/LTC segment improved 16% year over year to $20 billion. During the second quarter, CVS Health opened 20 new retail drugstores, 2 onsite pharmacies and closed 10 retail stores. Further, the company relocated 9 retail drugstores.
Major Factors: CVS Health ended second quarter of 2016 on a mixed note, with its bottom-line exceeding the Zacks Consensus Estimate, while the top-line missing the same. Moreover, management narrowed the company’s 2016 adjusted EPS guidance, which disappoints us. For the second quarter, the generic dispensing rate increased 155 basis points to 85.4% in the Pharmacy Services Segment and 110 basis points to 86.1% in the Retail/LTC Segment.
Stock Price: Following the earnings release, share prices did not show any significant movement in the pre-market trading session.
Check back later for our full write up on this CVS Health earnings report later!
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CVS Health (CVS) Beats Earnings, Misses Revenues in Q2
Ever bought medicines or cosmetics over the counter? Yes, then you may have walked into one of the 9,652 retail CVS/pharmacy stores of the largest pharmacy healthcare services provider in the U.S. – CVS Health Corporation (CVS - Free Report) . This Rhode Island-based company’s more than 900 walk-in medical clinics–CVS/MinuteClinic currently possess a customer satisfaction rate of 95%.
Currently, CVS Health has a Zacks Rank #4 (Sell) but that could change following its second quarter 2016 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:
Earnings:The Zacks Consensus Estimate remained steady at $1.30 per share over the last 60 days. CVS Health’s adjusted earnings per share of $1.32 beat this estimate by 1.5%.
CVS HEALTH CORP Price and EPS Surprise
CVS HEALTH CORP Price and EPS Surprise | CVS HEALTH CORP Quote
Revenues:CVS Health posted revenues of $43.7 billion, missing the Zacks Consensus Estimate for revenues of $44.2 billion.
Key Stats: CVS Health’s Pharmacy Services segment revenues increased 20.7% to $29.5 billion, while revenues from Retail/LTC segment improved 16% year over year to $20 billion. During the second quarter, CVS Health opened 20 new retail drugstores, 2 onsite pharmacies and closed 10 retail stores. Further, the company relocated 9 retail drugstores.
Major Factors: CVS Health ended second quarter of 2016 on a mixed note, with its bottom-line exceeding the Zacks Consensus Estimate, while the top-line missing the same. Moreover, management narrowed the company’s 2016 adjusted EPS guidance, which disappoints us. For the second quarter, the generic dispensing rate increased 155 basis points to 85.4% in the Pharmacy Services Segment and 110 basis points to 86.1% in the Retail/LTC Segment.
Stock Price: Following the earnings release, share prices did not show any significant movement in the pre-market trading session.
Check back later for our full write up on this CVS Health earnings report later!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report >>