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CVS Health (CVS) Revenues Q1 2021

People are walking by a CVS pharmacy store in the Manhattan district of New York City.

Shannon Stapleton | Reuters

CVS Health was strong in the first quarter and raised its full-year forecast as customers came to the store to vaccinate, test and prescribe Covid-19.

The company’s stock rose 3% in pre-market trading early Tuesday.

Based on Refinitiv’s survey of analysts, the company reported the following in the first quarter of the fiscal year ending March 31 compared to what analysts expected:

  • Earnings per share: $ 2.04, adjusted vs. $ 1.72 expected
  • Revenue: $ 69.1 billion vs. $ 68.39 billion forecast

Net income from healthcare companies and drugstore chains increased from $ 2.01 billion ($ 1.53 per share) in the year-ago quarter to $ 2.22 billion ($ 1.68 per share).

Excluding items, we earned $ 2.04 per share, which is higher than the $ 1.72 per share expected by analysts surveyed by Refinitiv.

Revenue increased from $ 66.8 billion in the previous year to $ 69.1 billion. This exceeded analysts’ expectations of $ 68.39 billion.

CVS is a leading provider of Covid-19 vaccines and recently launched same-day bookings for shots.

As of Monday’s closing price, CVS’s share has risen nearly 14% this year. They closed at $ 77.69 on Monday, bringing the company’s market value to $ 101.97 billion.

Read the full release here.

This story is developing. Check for updates.

CVS Health (CVS) Revenues Q1 2021

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