CVS Well being raises 2021 earnings outlook, backs 2022 forecast

CVS Health raises 2021 earnings outlook, backs 2022 forecast

A buyer walks in direction of the doorway of a CVS Well being Corp. retailer in downtown Los Angeles, California, U.S., on Friday, Oct. 27, 2017.

Christopher Lee | Bloomberg | Getty Pictures

CVS Well being stated Tuesday that it has raised its full-year earnings outlook and backed prior steering for 2022.

The pharmacy chain has been getting a lift as prospects come into its shops for Covid testing and vaccines in the course of the pandemic.

CVS stated it expects full yr 2021 earnings to be in a variety of $5.87 to $5.92 per share, up from earlier expectations of $5.50 to $5.61 per share.

After changes, it expects to earn $8.33 to $8.38 per share, up from a previous forecast of at the very least $8 per share. The brand new vary is above the $8.03 per share that analysts surveyed by Refinitiv are projecting.

CVS additionally reaffirmed its 2022 forecast, which requires earnings per share to be between $7.04 and $7.24, and between $8.10 and $8.30 per share, after changes.

Analysts have been in search of CVS to earn $8.27 per share, after changes, in 2022.

CVS made the announcement in an 8K submitting with the Securities and Alternate Fee forward of a deliberate assembly with traders Tuesday morning.

Shares have been up about 1% in premarket buying and selling on the information.

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