Trending: CVS Health Misses 1Q Expectations, Slashes Fiscal Year Outlook
10:03 ET -- CVS Health is one of the most mentioned companies in the U.S. across all news items in the past 12 hours, according to Factiva data. The drugstore chain and health care services company missed first-quarter profit and revenue expectations and lowered full-year outlook, citing Medicare Advantage challenges. CVS Health's first-quarter net income dropped to $1.11 billion, or 88 cents a share, from $2.14 billion, or $1.65 a share, a year ago. Adjusted earnings per share were $1.31, below analysts projections of about $1.69. Revenue rose 3.7% to $88.44 billion but was below the FactSet consensus estimate of $89.33 billion. The company cut its guidance for 2024, to at least $7 in adjusted earnings per share, from $8.30. Shares are down 17%. Dow Jones & Co. owns Factiva. (zaeem.shoaib@wsj.com)
(END) Dow Jones Newswires
May 01, 2024 10:18 ET (14:18 GMT)
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