Thu, Jul 24, 2014, 12:20 PM EDT - U.S. Markets close in 3 hrs 40 mins

Recent

% | $
Click the to save as a favorite.

Walgreen Co. Message Board

  • wall_st_knight_mare wall_st_knight_mare Feb 6, 2013 9:33 AM Flag

    CVS Caremark Raises Outlook

    CVS Caremark Corp.'s CVS -0.29% fourth-quarter net profit rose 2.6% as the company reported revenue growth in its pharmacy-services and retail drugstore operations.

    For the year, the company raised its forecast for per-share adjusted earnings from continuing operations by two cents and now expects $3.86 to $4.

    CVS's retail pharmacy business gained customers last year in the wake of a contract dispute between rival Walgreen Co.'s WAG -0.92% and pharmacy-benefits manager Express Scripts Holding Co. ESRX -1.01% that has since been resolved.

    A wave of major generic drugs introductions is having a mixed effect on the industry. Though the copycat drugs carry higher margins than branded products, they command lower prices, hurting sales revenue.

    CVS Caremark reported a profit of $1.13 billion, or 90 cents a share, up from $1.1 billion, or 81 cents a share, a year earlier. Excluding debt-extinguishment losses, acquisition-related charges and other items, adjusted earnings from continuing operations were $1.14. Revenue increased 11% to $31.39 billion.

    Analysts polled by Thomson Reuters most recently projected earnings of $1.10 on revenue of $31.13 billion.

    Revenue in the larger pharmacy-services business climbed 17% to $18.6 billion, reflecting new client starts, higher prices and growth of its Medicare Part D program. Pharmacy network claims processed rose 6.5%.

    On the retail side, revenue increased 5.1% to $16.3 billion. Same-store sales were up 4% from a year earlier, as pharmacy same-store sales also improved by 4%. Same-store sales in the front end of the store grew 3.9%.

 
WAG
73.73+0.83(+1.14%)12:20 PMEDT

Trending Tickers

i
Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.