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
Figurine of a woman and a goose offers peek at prehistoric beliefs - 2Machado ‘presented’ her Nobel Peace Prize medal to Trump
- 3Medicine doesn’t just have ‘conscientious objectors’ − there are ‘conscientious providers,’ too
- 4When does Spotify Wrapped come out? The music streamer says 'soon.'
- 5Netflix is releasing a documentary on Elizabeth Smart. What to know about her kidnapping, rescue and where she is now.
- High Court freezes government move to shutter Army Radio pending ruling
- Find the Force of The ability to understand anyone on a deeper level: Improving Mindfulness and Connections
- Osteoporosis, the silent disease, can shorten your life − here’s how to prevent fractures and keep bones healthy
- The most effective method to Shake Hands During a Pandemic: Wellbeing Tips and Behavior
- Unpaid caregiving work can feel small and personal, but that doesn’t take away its ethical value
- Are protests pushing Iran's Islamic regime toward a tipping point?
- AbbVie plans to build out its presence in obesity market
- Dental Embed Innovation: An Achievement in Helpful Dentistry
- Heart disease risk greater for women with a common condition they may not be aware they have
