CVS Health Reports Q2 Earnings Beat, Raises Guidance

CVS Health CVS shares are trading higher after the company reported better-than-expected second-quarter earnings and sales results. The company also raised fiscal year 2019 EPS guidance above analyst estimates.

The company reported quarterly earnings of $1.89 per share, which beat the analyst consensus estimate of $1.69 by 11.83%. This is a 11.83% increase over earnings of $1.69 per share from the same period last year.

CVS Health reported quarterly sales of $63.4 billion, which beat the analyst consensus estimate of $62.65 billion by 1.20%. This is a 35.74% increase over sales of $46.708 billion the same period last year.

"We posted strong second quarter results, with all of our businesses performing at or above expectations. These results demonstrate our ability to execute on our strategic priorities to accelerate enterprise growth as we seek to fundamentally transform the consumer health experience,” said Larry Merlo CEO of CVS Health. “Given our performance to date and our expectations for the remainder of the year, we are raising and narrowing our adjusted EPS guidance range to $6.89 to $7.00."

CVS shares were trading up 4.46% at $56.50 in Wednesday’s pre-market session. The stock has a 52-week high of $82.15 and a 52-week low of $51.72.

Related Links:

Regeneron Pharmaceuticals Reports Q2 Earnings Beat

Energizer Holdings Reports Q3 Earnings Miss

Photo credit: hattiesburgmemory (CVS Pharmacy Uploaded by AlbertHerring), via Wikimedia Commons