CVS Health maintains 2024 financial outlook in investor meeting
Investing.com | Editor Emilio Ghigini
Published Mar 05, 2024 06:34AM ET
In a recent investor meeting and webcast held today, CVS Health Corporation (NYSE:CVS) confirmed its financial guidance for the full year 2024. The company's Executive Vice President and Chief Financial Officer, Tom Cowhey, reiterated the expectations for the company's performance, including a minimum GAAP diluted earnings per share (EPS) of $7.06, an adjusted EPS of at least $8.30, and a cash flow from operations of a minimum of $12.0 billion.
The reaffirmation of these figures comes as CVS Health's senior management team engages with investors to provide updates on the company's business trends and strategic initiatives. The webcast was made accessible to interested parties through the Investor Relations section of the CVS Health website, with a replay available for one year.
CVS Health emphasizes the use of non-GAAP financial measures such as adjusted EPS to offer a clearer understanding of their underlying business performance and trends, which they believe aids in comparing past and current financial results. The company notes that these non-GAAP measures are not meant to replace GAAP financial metrics but rather to complement them.
The projected GAAP diluted EPS and adjusted EPS are based on the projected net income attributable to CVS Health and adjusted income attributable to CVS Health, respectively, divided by the projected weighted average diluted shares outstanding. Adjusted income excludes the impact of certain items like amortization of intangible assets, net realized capital gains or losses, and other non-recurring costs such as acquisition-related integration costs.
The information provided is based on a press release statement, and it is important to note that the definitions of non-GAAP financial measures may vary between companies and may not be directly comparable. CVS Health's commitment to these projections reflects confidence in their business strategies and ongoing operations.
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