CVS Health Corp. on Wednesday reported higher profit and revenues in its first quarter and raised fiscal 2026 outlook.
According to the health solutions major, the updated outlook reflects increases in the Health Care Benefits and Pharmacy & Consumer Wellness segments. The company maintains a cautious view for the remainder of the year amid continued elevated cost trends and the potential for macro headwinds.
In pre-market activity, CVS shares were gaining around 4.7 percent to trade at $84.41, after closing Tuesday's regular trading 1.6 percent lower.
For fiscal 2026, the company now projects earnings per share to be $6.24 to $6.44, higher than previous estimate of $5.94 to $6.14.
Adjusted earnings per share are now expected between $7.30 and $7.50, compared to previous range of $7.00 to $7.20.
Total revenues for year are now expected to be at least $405.0 billion.
The Company in early December had issued guidance for total fiscal 2026 revenues of at least $400.0 billion
In fiscal 2025, earnings per share were $1.39 and adjusted earnings per share were $6.75 on revenues of $402.07 billion.
In the first quarter, CVS Health's net earnings totaled $2.943 billion or $2.30 per share, higher than $1.779 billion or $1.41 per share last year.
Adjusted earnings were $3.292 billion or $2.57 per share for the period, compared to $2.25 per share last year.
The company's revenue for the period rose 6.2% to $100.426 billion from $94.588 billion last year, driven by revenue growth across all operating segments.
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