CVS Health Corp. (CVS) reported on Wednesday a profit for the fourth quarter that declined 44 percent from last year, hurt by higher benefit costs and expenses, despite a 4 percent revenue growth. Both adjusted earnings per share from continuing operations and quarterly revenues topped analysts' expectations. The company also initiated earnings and adjusted earnings guidance for the full-year 2021.
For the fourth quarter, the company reported net income attributable to the company of $973 million or $0.74 per share, sharply lower than $1.75 billion or $1.33 per share in the prior-year quarter.
Excluding items, adjusted income from continuing operations attributable to the company for the quarter was $1.71 billion or $1.30 per share, compared to $2.27 billion or $1.73 per share in the year-ago quarter.
On average, 23 analysts polled by Thomson Reuters expected the company to report earnings of $1.24 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter grew 4.0 percent to $69.55 billion from $66.89 billion in the same quarter last year, primarily driven by growth in the Health Care Benefits and Retail/LTC segments. Analysts expected revenues of $68.75 billion for the quarter.
The Pharmacy Services segment revenues declined 1.9 percent to $36.36 billion from $37.07 billion, while Retail/LTC segment revenues grew 6.6 percent to $24.06 billion from $22.58 billion and Health Care Benefits segment revenues increased 11.4 percent to $19.10 billion from $17.15 billion from last year.
Looking ahead for 2021, the company expects earnings from continuing operations in range of $6.06 to $6.22 per share, and adjusted earnings in a range of $7.39 to $7.55 per share. Analysts expect annual earnings of $7.54 per share.
CVS Health is in the process of administering COVID-19 vaccinations to eligible people after inking a public-private Pharmacy Partnership with the U.S. government to provide and administer COVID-19 vaccines to protect vulnerable American residents of long-term care facilities (LTCF) nationwide with no out-of-pocket costs.
For comments and feedback contact: editorial@rttnews.com
Business News
April 17, 2026 15:29 ET The ongoing conflict in the Middle East continues to raise concerns for policymakers who worry about the impact of the supply shock and high energy prices on the real economy. Producer price data and various survey results on the housing market were the main news from the U.S. this week. In Europe, industrial production data for the euro area gained attention. GDP figures out of China and the policy move by the Singapore central bank were in focus in Asia.