CVS Health tops Q2 earnings estimates and raises guidance

CVS Health Corp. CVS, +1.93% posted net that topped estimates Wednesday and again raised its guidance. Woonsocket, RI.-based CVS posted nett income of $2.791 billion, oregon $2.10 a share, for the quarter, down from $2.986 billion, oregon $2.26 a share, successful the year-earlier period. Adjusted per-share net came to $2.42, up of the $2.07 FactSet consensus. Revenue roseate to $72.6 cardinal from $65.3 cardinal to besides bushed the $70.2 cardinal FactSet consensus. Front store same-store income roseate 12.0% and pharmacy same-store income were up 12.4%. The institution administered much than 6 cardinal COVID-19 tests successful the 4th and astir 18 cardinal vaccines crossed the U.S. CVS is raising its full-year guidance and present expects EPS to scope from $6.35 to $6.45, up from earlier guidance of $6.24 to $6.36. It expects adjusted EPS to scope from $7.70 to $7.80, up from anterior guidance of $7.56 to $7.68. Shares were up 0.6% premarket and person gained 23% successful the twelvemonth to date, portion the S&P 500 SPX, +0.82% has gained 17.8%.