Plus   Neg

CVS Health Boosts FY20 Outlook - Quick Facts

While reporting financial results for the third quarter on Friday, CVS Health Corp. (CVS) raised its earnings and adjusted earnings guidance for the full-year 2020.

For fiscal 2020, the company now projects earnings in a range of $5.60 to $5.70 per share and adjusted earnings in a range of $7.35 to $7.45 per share.

Previously, the company expected earnings in the range of $5.16 to $5.29 per share and adjusted earnings in the range of $7.14 to $7.27 per share.

On average, 29 analysts polled by Thomson Reuters expect the company to report earnings of $7.24 per share for the year. Analysts' estimates typically exclude special items.

Further, the company also raised its full year cash flow from operations guidance range to $12.75 billion to $13.25 billion from $11.0 billion to $11.5 billion.

The Company said it continues to acknowledge the inherent and unprecedented uncertainty surrounding the ongoing COVID-19 pandemic and its impact while providing these updates to its full year guidance.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
American Airlines announced the launch of Flagship Cellars, its home delivery service for premium wines usually available onboard. The airline's move is said to be due to the excess wine it has amid the weakness in air travel demand following the coronavirus pandemic crisis. The company expects the new at-home wine program to generate about $40,000 to $50,000 in sales during the first quarter. Intel Corp. is planning to manufacture majority of its 2023 products internally, while it may outsource some, according to the incoming Chief Executive Officer Pat Gelsinger. At the fourth-quarter earnings webcast, while talking about 7nm program development, Gelsinger said, "I am confident that the majority of our 2023 products will be manufactured internally...." American Airlines has extended its offer to waive change fees for customers who purchase tickets for travel, until March 31 in response to lower travel demand due to the coronavirus pandemic. This means that travelers are provided additional flexibility by not asking them to pay penalties for changing the origin and destination cities.
Follow RTT