CVS

CVS Caremark’s Q2 Profit Falls; Adjusted Results Beat; Forecast Adjusted (CVS)

An image of a pen, a tablet and a calculator Credit: Shutterstock photo

Pharmacy chain operator CVS Caremark Corporation ( CVS ) on Thursday said its second quarter profits fell 1% from last year, but adjusted results were enough to beat analyst expectations.

The Woonsocket, RI-based company reported second quarter net income of $816 million, or 60 cents per share, compared with $821 million, or 60 cents per share, in the year-ago period. Excluding items, adjusted profit was 65 cents per share, narrowly besting analyst estimates of 64 cents.

Net revenue for the quarter rose 11% from last year to $26.6 billion. Analysts expected higher revenue of $26.76 billion.

Looking ahead, the company now expects full-year earnings of $2.75 to $2.81 per share on an adjusted continuing operations basis, narrowed from a prior outlook of $2.72 to $2.82. Analysts expect full-year profits of $2.78 per share.

CVS Caremark shares fell $1.17, or -3.2%, in early trading Thursday.

The Bottom Line

Shares of CVS Caremark ( CVS ) have a 1.38% dividend yield, based on last night's closing stock price of $36.21. The stock has technical support in the $33-$34 price area. If the shares can firm up, we see overhead resistance around the $38-$39 price levels.

CVS Caremark Corporation ( CVS ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Created by Dividend.com


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

More Related Articles

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.