Before the opening bell on Tuesday, CVS Health (CVS ) posted higher results for the fourth quarter, which beat analysts’ expectations.
CVS's Earnings in Brief
- CVS posted net income of $1.32 billion, or $1.15 per share, up from $1.27 billion, or $1.06 per share, last year. Excluding special items, earnings were $1.21 per share – above analysts’ view of $1.20 per share.
- Revenue rose 12.9% to $37.06 billion from $32.83 billion last year. Analysts expected to see revenue of $36.08 billion.
- Looking forward, the company expects to see adjusted EPS between $1.06 and $1.09 per share, while analysts expect to see EPS of $1.09.
- For FY2015, earnings are expected to be between $5.05 and $5.19 per share. Analysts expect to see earnings of $5.15 per share.
President and CEO Larry Merlo commented: “By any measure, 2014 was a great year for our company. We delivered strong financial performance, with solid year-over-year growth in revenues, operating profit, earnings per share and cash flow. Our performance in the fourth quarter was no exception, with Adjusted EPS increasing 8.4%, coming in at the high end of our expectations. At the same time, we generated free cash flow for the full-year of $6.5 billion, exceeding our expectations.”
CVS paid its last 35 cent dividend on February 2. We expect the company to declare its next dividend in March.
Shares of CVS were up $1.79, or 1.80%, during premarket trading Tuesday. YTD, the stock is up 3.37%.