CVS Health recorded $67.1 billion revenues in Q3 2020 results, up 3.5% from the prior year, according to the company’s press release. Quarterly revenue growth reflects planned investments, holistic and innovative solutions that meet the needs of the customers.
- 2020 Full Year Guidance
- CVS Health raises GAAP diluted earnings per share (EPS) range from $5.16-5.29 to $5.60-5.70.
- The company raises adjusted EPS guidance range from $7.14-7.27 to $7.35-7.45.
- The company raises cash flow from operations guidance range from $11.0-11.5 billion to $12.75-13.25 billion.
- Q3 and Year-to-date Highlights
- Adjusted EPS was $1.66, down from $1.84 in the comparable quarter of 2019.
- Adjusted operating income was $3.6 billion, down from $3.95 billion in the comparable quarter of 2019.
- Net income was $1.22 billion, down from $1.53 billion, in the comparable quarter of 2019.
- The company generated year-to-date cash flow from operations amounting to $12.3 billion.
- The company has doubled the number of test sites to more than 4,000 CVS Pharmacy locations countrywide.
- CVS Health has been selected to administer vaccines to long-term care facilities.
- The consumer-driven health care model is increasing access to products and services.
CVS Health stock is currently gaining. CVS: NYSE is up on premarket 2.59%