Dec 9 (Reuters) - CVS Health (CVS) on Tuesday forecast 2026 profit above Wall Street estimates and this year's projected earnings, signalling steady progress in the health conglomerate's turnaround plan.
CVS stock rose 5% in early trading on Tuesday.
The company in October projected double-digit earnings growth for 2026 after raising its 2025 profit forecast for the third time.
"We are closing out 2025 with meaningful momentum across our businesses and we expect another year of strong earnings growth in 2026," said Chief Financial Officer Brian Newman on Tuesday.
The company forecast 2026 adjusted profit to be in the range of $7.00 to $7.20 per share, compared with analysts' average estimate of $7.16, according to data compiled by LSEG.
It, however, expects total revenue of at least $400 billion next year, below analysts' average estimate of $419.26 billion.
CVS also raised its 2025 adjusted profit forecast to $6.60 to $6.70 per share from $6.55 to $6.65 previously.
(Reporting by Sneha S K in Bengaluru; Editing by Shinjini Ganguli)
LATEST POSTS
- 1
Humpback whale stranded on Germany's Baltic coast frees itself - 2US bishops officially ban gender-affirming care at Catholic hospitals
- 3Can scientists detect life without knowing what it looks like? Research using machine learning offers a new way
- 4Artemis II's moonbound toilet is working again to astronauts' relief after overnight fix
- 5Clocks to go forward one hour in Europe as summer time starts
- Dominating Capable Mastercard Utilization: Key Contemplations
- Windows to the Previous: An Excursion Through the World's Notable Engineering
- Greece eyes migrant repatriation centres outside the EU
- From Squid Game to Your Party! Six Entertaining Test Games That Will Have You in Join
- Allow Innovative Progressions To have a Tremendous Effect
- Uranus's small moons are dark, red, and water-poor
- 6 Tire Brands Reasonable for Seniors
- Astrophotographer captures rare footage of the Hubble Telescope crossing the sun (video)
- My Dad Can't Travel Like He Used to, but Slowing Down Doesn't Mean Stopping
