CVS Health Corp (NYSE:CVS) is trading lower Wednesday after the company announced its fourth-quarter financial results and reaffirmed guidance.
CVS reported quarterly revenue of $76.6 billion, which beat the $75.55 billion estimate, representing a 10.1% increase year-over-year. The company reported quarterly adjusted earnings of $1.98 per share, which beat the $1.83 estimate.
CVS said demand for COVID-19 vaccines and at-home tests lifted overall store sales.
"We’re engaging millions of customers across our businesses and in our community health destinations, becoming an even bigger part of their everyday health. That’s clearly reflected in our performance, but more importantly in our potential," said Karen Lynch, president and CEO of CVS.
CVS reaffirmed that it expects full-year 2022 adjusted earnings to be in a range of $8.10 to $8.30 per share versus the $8.28 estimate.
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CVS Price Action: CVS has traded as low as $68.02 and as high as $111.25 over a 52-week period.
The stock was down 3.92% at $106.51 at time of publication.
Photo: courtesy of CVS.
