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CVS Health Beats on Q1 Earnings and Revenue Estimates
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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 has more than 900 walk-in medical clinics–CVS/MinuteClinic and currently possesses a customer satisfaction rate of 95%.
Currently, CVS Health has a Zacks Rank #3 (Hold) but that could change following its first quarter 2017 earnings report which has just released. (You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here). We have highlighted some of the key details from the just-released announcement below:
Earnings: The Zacks Consensus Estimate remained steady at $1.10 per share over the last 60 days.CVS Health’s adjusted earnings per share of $1.17 beat this estimate by 6.4% and decreased 0.85% year over year (y/y).
Revenues: CVS Health posted revenues of $44.5 billion up 3.0% y/y, surpassed the Zacks Consensus Estimate for revenues of $44.23 billion.
Key Stats: For the first quarter CVS Health’s Pharmacy Services segment revenues increased 8.5% year over year to $31.2 billion, while revenues from Retail/LTC segment declined 3.8% year over year to $19.34 billion. During the first quarter, CVS Health opened 27 new retail stores and closed 60 retail stores. Further, the company relocated 10 retail stores. As of Mar 31, 2017, CVS health operated 9,676 retail stores, including pharmacies in Target stores, in 49 states, the District of Columbia, Puerto Rico and Brazil.
Major Factors: Per management, the results outpaced the expectations of the company. CVS Health is also upbeat about its strong cash position. The company is aiming to achieve sustainable and healthy earnings growth through execution of its planned strategies. Management is also very confident regarding the company’s model and position in the evolving health care landscape. The company confirmed its earlier EPS and cash flow guidance for both the second quarter of 2017 and the full year.
Stock Price: Following the earnings release, share prices declined 0.43% in the pre-market trading session.
Check back later for our full write up on this CVS Health earnings report later!
Sell These Stocks. Now.
Just released, today's 220 Zacks Rank #5 Strong Sells demand urgent attention. If any are lurking in your portfolio or Watch List, they should be removed immediately. These sinister companies because many appear to be sound investments. However, from 1988 through 2016, stocks from our Strong Sell list have actually performed 6X worse than the S&P 500.
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CVS Health Beats on Q1 Earnings and Revenue Estimates
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 has more than 900 walk-in medical clinics–CVS/MinuteClinic and currently possesses a customer satisfaction rate of 95%.
Currently, CVS Health has a Zacks Rank #3 (Hold) but that could change following its first quarter 2017 earnings report which has just released. (You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here). We have highlighted some of the key details from the just-released announcement below:
Earnings: The Zacks Consensus Estimate remained steady at $1.10 per share over the last 60 days.CVS Health’s adjusted earnings per share of $1.17 beat this estimate by 6.4% and decreased 0.85% year over year (y/y).
CVS Health Corporation Price and EPS Surprise
CVS Health Corporation Price and EPS Surprise | CVS Health Corporation Quote
Revenues: CVS Health posted revenues of $44.5 billion up 3.0% y/y, surpassed the Zacks Consensus Estimate for revenues of $44.23 billion.
Key Stats: For the first quarter CVS Health’s Pharmacy Services segment revenues increased 8.5% year over year to $31.2 billion, while revenues from Retail/LTC segment declined 3.8% year over year to $19.34 billion. During the first quarter, CVS Health opened 27 new retail stores and closed 60 retail stores. Further, the company relocated 10 retail stores. As of Mar 31, 2017, CVS health operated 9,676 retail stores, including pharmacies in Target stores, in 49 states, the District of Columbia, Puerto Rico and Brazil.
Major Factors: Per management, the results outpaced the expectations of the company. CVS Health is also upbeat about its strong cash position. The company is aiming to achieve sustainable and healthy earnings growth through execution of its planned strategies. Management is also very confident regarding the company’s model and position in the evolving health care landscape. The company confirmed its earlier EPS and cash flow guidance for both the second quarter of 2017 and the full year.
Stock Price: Following the earnings release, share prices declined 0.43% in the pre-market trading session.
Check back later for our full write up on this CVS Health earnings report later!
Sell These Stocks. Now.
Just released, today's 220 Zacks Rank #5 Strong Sells demand urgent attention. If any are lurking in your portfolio or Watch List, they should be removed immediately. These sinister companies because many appear to be sound investments. However, from 1988 through 2016, stocks from our Strong Sell list have actually performed 6X worse than the S&P 500.
See today's Zacks "Strong Sells" absolutely free >>.