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CVS Health Raises, Narrows 2019 Adj. EPS Guidance - Quick Facts

CVS Health Corp. (CVS) raised and narrowed its fiscal 2019 adjusted earnings per share guidance range to $6.97 to $7.05 from $6.89 to $7.00. The company also raised and narrowed adjusted operating income guidance range to $15.22 billion to $15.40 billion from $15.16 billion to $15.36 billion. Analysts polled by Thomson Reuters expect the company to report profit per share of $6.98. Analysts' estimates typically exclude special items.

For the third-quarter, adjusted earnings per share was $1.84 compared to $1.73, a year ago. On average, 24 analysts polled by Thomson Reuters expected the company to report profit per share of $1.77, for the quarter.

Third-quarter total revenues increased to $64.81 billion from $47.49 billion, prior year. Analysts expected revenue of $62.99 billion, for the quarter. Adjusted revenues increased 37.1 percent. Revenue growth was primarily driven by the impact of the Aetna Acquisition, as well as increased volume and brand name drug price inflation in both the Pharmacy Services and Retail/LTC segments.

Shares of CVS Health Corp. were up 3% in pre-market trade on Wednesday.

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