Earn CVS Health (CVS) Q2 2021

A view out of a CVS Pharmacy store on July 16, 2020 in Miramar, Florida.

Johnny Louis | Getty Images

CVS Health on Wednesday exceeded analysts ’expectations for second-quarter tax gains and raised its forecast for the year, when customers returned to medical offices and more typical shopping models.

Shares of the pharmacy chain and health insurers have grown less than 1% in the premarket business.

The company said its business has begun to normalize, as customers buy more items in front of the store and pharmacists complete more prescriptions. He said the use of health care is returning to a more typical pattern, even when people resume medical examinations and procedures.

Sales in the same store increased 12.3% in the second quarter, compared to a year ago.

However, amid the growth of Covid-19 cases and the spread of the delta variant, CVS CEO Karen Lynch said the company remains committed to expanding access to and dissemination of vaccines.

CVS said it administered nearly 17 million Covid-19 vaccines and more than 6 million tests in the second quarter.

Here’s what the company reported for the three-month period ended June 30, compared to what analysts expected, based on a survey of analysts by Refinitiv:

  • Earnings per share: $ 2.42 added vs. $ 2.06 expected
  • Revenues: $ 72.62 billion vs. projected $ 70.3 billion

CVS reported second-quarter net income of $ 2.78 billion, or $ 2.10 per share, down from $ 2.98 billion, or $ 2.26 per share, a year earlier.

Excluding items, it earned $ 2.42 per share, more than the $ 2.06 per share forecast by analysts interviewed by Refinitiv.

The company’s revenues rose to $ 72.62 billion from $ 65.34 billion the year before, exceeding analysts ’expectations of $ 70.3 billion.

CVS has upgraded its guidance for the year. He said he expects 2021 earnings to range between $ 6.35 and $ 6.45, and then adjustments between $ 7.70 to $ 7.80 on the one hand.

By the end of Tuesday, CVS shares were up about 23% this year. Shares closed Tuesday at $ 84.00, bringing the company’s market value to $ 110.59 billion.

Read the full press release here.

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