CVS Health Corp.
shares rose 1.5% in premarket commerce Wednesday after the corporate reported a first-quarter profit beat and upbeat 2018 guidance. Earnings for the most recent quarter rose to $998 million, or 98 cents per share, from $953 million, or 92 cents per share within the year-earlier interval. Adjusted earnings-per-share have been $1.48, in contrast with the FactSet consensus of $1.41. The newest earnings outcomes embrace a $153 million improve in working profit and a $221 million curiosity expense improve associated to the corporate’s deliberate Aetna
acquisition. Revenue rose to $45.69 billion from $44.51 billion, in contrast with the FactSet consensus of $45.eight billion. CVS expects 2018 EPS of $5.11 to $5.32 and 2018 adjusted EPS of $6.87 to $7.08, above the FactSet consensus of $6.47. In the second quarter, CVS expects EPS of $1.21 to $1.26 and adjusted EPS of $1.59 to $1.64. CVS additionally mentioned it obtained a second request for info from the Department of Justice in February relating to the Aetna acquisition; it nonetheless expects the transaction to shut by the second half of the 12 months. CVS shares have dropped 11% over the past three months, in contrast with an almost four% drop within the S&P 500
and a 5.6% drop within the Dow Jones Industrial Average