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CVS Health Sees Q3 Profit Above View; Lifts FY Profit Outlook

CVS Health Corp. (CVS) said that it expects GAAP earrings per share from continuing operations to be in the range of $1.16 - $1.20, and adjusted earnings per share of $1.75 - $1.79 for the third quarter of 2019. Analysts polled by Thomson Reuters expect the company to report earnings of $1.67 per share for third-quarter. Analysts' estimates typically exclude special items.

In Wednesday pre-market trade, CVS is trading at $56.60 up $2.52 or 4.66 percent.

The company confirmed its full year 2019 consolidated GAAP operating income guidance range of $11.8 billion to $12.0 billion. It raised full year adjusted operating income outlook to a range of $15.2 billion - $15.4 billion from the prior estimation of $15.0 billion - $15.2 billion.

The company also raised and narrowed annual GAAP earnings per share from continuing operations guidance range to a range of $4.93 - $5.04 from the previous outlook of $4.90 to $5.05.

The company raised and narrowed the adjusted earnings per share guidance range to $6.89 - $7.00 from the previous outlook of $6.75 to $6.90. Analysts expect annual earnings of $6.83 per share.

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