Categories AlphaGraphs, Earnings, Health Care
CVS Earnings: CVS Health Q3 adj. profit drops despite 6% revenue growth
Healthcare conglomerate CVS Health Corporation (NYSE: CVS) on Wednesday announced third-quarter 2024 results, reporting a decrease in adjusted earnings and an increase in revenues. The top line exceeded estimates.
September-quarter adjusted profit decreased 51% year-over-year to $1.09 per share and missed analysts’ estimates. On a reported basis, net income was $87 million or $0.07 per share in Q3, compared to $2.26 billion or $1.75 per share in the prior-year quarter.
Meanwhile, revenues increased 6% year-over-year to $95.4 billion during the three months and topped expectations. Total same-store sales climbed 15.5% year-over-year.
“My commitment to our CVS Health colleagues and our customers is to drive focused execution of our integrated strategy to improve the health of the 185 million people we are privileged to serve.,” said CVS CEO David Joyner.
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