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
3 Italian City Cars That Outsmarted Regulations and Rivals - 2Startled Venezuelans express relief but also fear after Maduro arrest
- 3Pat Finn, actor from 'The Middle,' dies at 60 after bladder cancer diagnosis
- 4Shredded cheese recall: Multiple brands sold at Aldi, Target and Walmart affected over potential metal fragment contamination
- 5Countdown begins for long-awaited Artemis II moon mission
- US FDA approves Kura-Kyowa's blood cancer therapy
- FACT FOCUS: Trump sows confusion on number of childhood vaccinations
- There was a bit of toilet trouble on NASA's Artemis 2 mission to the moon
- 5 Great and High Evaluated Scene Configuration Administrations For 2024
- Watching ‘Home Alone’ with the kids this holiday season? Brace yourself for '6-7.'
- Explosions heard across Tehran after IDF announces wave of strikes on regime terror targets
- Canada cancels its 1st moon rover: 'It's hopefully not a lost cause'
- Undeniably popular Historical centers: Where Craftsmanship and History Meet
- Europe's powerful Ariane 6 rocket launches Sentinel-1D Earth-observation satellite to orbit (video)
