Dec 9 (Reuters) - CVS Health (CVS) on Tuesday forecast 2026 profit above Wall Street estimates and this year's projected earnings, signalling steady progress in the health conglomerate's turnaround plan.
CVS stock rose 5% in early trading on Tuesday.
The company in October projected double-digit earnings growth for 2026 after raising its 2025 profit forecast for the third time.
"We are closing out 2025 with meaningful momentum across our businesses and we expect another year of strong earnings growth in 2026," said Chief Financial Officer Brian Newman on Tuesday.
The company forecast 2026 adjusted profit to be in the range of $7.00 to $7.20 per share, compared with analysts' average estimate of $7.16, according to data compiled by LSEG.
It, however, expects total revenue of at least $400 billion next year, below analysts' average estimate of $419.26 billion.
CVS also raised its 2025 adjusted profit forecast to $6.60 to $6.70 per share from $6.55 to $6.65 previously.
(Reporting by Sneha S K in Bengaluru; Editing by Shinjini Ganguli)
LATEST POSTS
- 1
Jasmine Crockett in, Colin Allred out: A major shakeup for Democrats in their quest to finally win a Senate seat in Texas - 2Israel has clear objectives south of Litani River, but will face difficult choices further north
- 3Remain Cool and Solid: Top Summer Food sources for 2024
- 4There was a bit of toilet trouble on NASA's Artemis 2 mission to the moon
- 5Council removes proposal to rename park named after former president of Israel
- Misremembering might actually be a sign your memory is working optimally
- Ancient Pompeii construction site reveals the process for creating Roman concrete
- King Charles III says he is reducing cancer treatment schedule in 2026
- Palestinians forced from West Bank refugee camps left in limbo as Israeli demolitions go on
- Bolsonaro briefly leaves Brazilian prison for medical tests after a fall from his bed
- Meet Beef the bulldog, who takes slow walks with his 78-year-old friend
- Agricultural drones are taking off globally, saving farmers time and money
- Figure out How to Adjust Your Handshake to Various Societies
- When will the Epstein files be released — and will they reveal anything new?
