The most recent CVS earnings report has CVS stock falling on Wednesday with a poor outlook for 2019.
Source: Mike Mozart via Flickr
CVS’ (NYSE:CVS) outlook for the full year of 2019 includes earnings per share between $6.68 and $6.88. This will be down from its earnings per share of $7.08 in 2018. It was also a blow to CVS stock by being below Wall Street’s earnings per share estimate of $7.41 for the year.
“2019 will be a year of transition as we integrate Aetna and focus on key pillars of our growth strategy,” Larry Merlo, President and CEO of CVS, said in a statement. “We are fully aware of the need to address the impact of certain headwinds that are having a disproportionate impact in 2019 compared to prior years, and importantly, we are taking comprehensive actions to move past them.”
The poor outlook drags down what was otherwise a solid CVS earnings report. This includes earnings per share for the fourth quarter of 2018 coming in at $2.14. This is up from its earnings per share of $1.92 from the same period of the year prior. It also comes in above Wall Street’s earnings per share estimate of $2.05 for the quarter, but wasn’t able to keep CVS stock from falling today.
Revenue reported in the CVS earnings report for the fourth quarter of the year is $54.42 billion. This is an increase over the pharmacy company’s revenue of $48.39 billion reported in the fourth quarter of 2017. However, this does just miss analysts’ revenue estimate of $54.58 billion for the period.
CVS stock was down 7% as of noon Wednesday.
As of this writing, William White did not hold a position in any of the aforementioned securities.