CVS Health beat Wall Street's expectations in its third quarter earnings report.
Here's how the pharmacy giant performed compared to Wall analysts' estimates, according to Refinitiv:The results mark a 10% year over year revenue increase and the third consecutive quarter in which CVS beat earnings expectations.
The company on Wednesday also announced a multi-billion dollar settlement relating to its role in the opioid crisis. According to CVS, the settlement resolves all existing claims against the company relating to opioid distribution. The company raised its full year outlook for the second consecutive quarter. Now, the company expects an adjusted earnings per share for the full year of between $8.55 and $8.65, up from the range of $8.40 to $8.60 that it announced in August atop healthy traffic and Covid-related anti-viral drug sales.
CVS encompasses a large swath of health care services, including its prescription and over-the-counter medicine sales, its MinuteClinic patient care services and its pharmacy benefits manager, CVS Caremark. The company also owns Aetna, a managed health insurance company.
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