The third quarter saw CVS Health financials beat Wall Street estimates on income and sales as it turned in better sales and almost flat adjusted earnings year over year.
An analyst consensus estimate published by Yahoo Finance called for adjusted diluted earnings per share of $2.13 billion and revenues of $88.25 billion.
Total third-quarter revenues increased to $89.76 billion, up 10.6% year over year. Operating income was $3.69 billion versus $3.92 billion in the year-earlier period, while adjusted operating income was $4.46 billion versus $4.35 billion.
In the Pharmacy and Consumer Wellness segment of the business, CVS noted that total revenues were $28.87 billion versus $27.24 billion in the year-past quarter, while adjusted operating income was $1.39 billion versus $1.4 billion. Comparable store sales advanced 8.8% with front store comps, including general merchandise such as home goods, down 2.2%
In announcing the financial results, Karen Lynch, CVS Health president and CEO, said, “Our colleagues helped us deliver another quarter of positive results across our business areas. Despite a challenging business environment, we continue adapting to the changing needs of our consumers by connecting our care delivery capabilities in communities across the country, broadening access to care and lowering costs.”
