CVS Health's (CVS) Q1 Earnings Top Estimates, EPS View Up
Zacks Investment Research | Apr 30, 2019 11:42PM ET
CVS Health Corporation’s (NYSE:CVS) first-quarter 2019 adjusted earnings per share (EPS) of $1.62 increased 9.5% year over year and also exceeded the Zacks Consensus Estimate by 8%. The quarter’s adjusted EPS considered certain transaction and integration costs pertaining to the buyout of Aetna (NYSE:AET) and the purchase of Omnicare. It also adjusted certain store rationalization charge related to the planned closure of 46 underperforming retail pharmacy stores during the second quarter of 2019.
On a reported basis, the company registered earnings of $1.09 per share, up 11.2% from the year-ago period.
Net revenues in the first quarter surged 34.8% year over year to $61.65 billion. The same also topped the Zacks Consensus Estimate of $60.47 billion.
Quarter in Detail
Effective first-quarter 2019, the company has realigned the composition of its segments. As a result of this move, the company’s SilverScript Medicare Part D prescription drug plan (PDP) has shifted from the Pharmacy Services segment to the Health Care Benefits segment. In addition, the mail order and specialty pharmacy operations of Aetna have been transitioned from the Health Care Benefits segment to the Pharmacy Services segment.
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