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
Gaza Strip sees flooding after heavy rainfall - 26 Savvy Locks for Lofts
- 3Greenland’s melting ice and landslide-prone fjords make the oil and minerals Trump is eyeing dangerous to extract
- 4An Aide On Upgrading Your FICO rating
- 5Steven Spielberg's 'Disclosure Day' trailer drops: What we know about the alien movie
- Benedict Cumberbatch takes on something even Sherlock can’t solve: male grief
- Visual communication Programming for Fledglings
- 4 Famous Attractions at Disneyland
- Book excerpt: "Eat Your Ice Cream" by Ezekiel J. Emanuel, M.D.
- Doritos and Cheetos debut 'NKD' options, without artificial colors or flavors
- NASA chief Jared Isaacman says Texas may get a moonship, not space shuttle Discovery
- Interstellar comet 3I/ATLAS reveals weird wobbling jets in rare sun-facing tail
- Vote in favor of your #1 Kind of Cap
- Hot Electric Vehicles for 2023
