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
A 3-limbed Kemp's ridley sea turtle is now being tracked at sea by satellite - 2Monetary Wellness: Planning Tips for Independence from the rat race
- 3Unusual 'ingredients' helped stars form in a galaxy near the Milky Way
- 4FDA claims on COVID-19 vaccine safety are unsupported by reliable data – and could severely hinder vaccine access
- 5PHOTO ESSAY: Scientists trying to unravel one of the body's biggest mysteries
- JW Marriott Tokyo: an elegant retreat amid whirlwind of the city
- Netflix's Eddie Murphy documentary explains 'Saturday Night Live' beef: 'That's why I didn't go back for years'
- Flourishing as a Charitable Pioneer: Individual Encounters in Generosity
- China's Normal Ponders: A Visual Excursion
- Have gravitational waves provided the first hint of primordial black holes born during the Big Bang?
- Chicago reports first rabies-positive dog in 61 years. What we know.
- Figure out How to Amplify the Resale Worth of Your Kona SUV
- Israel faces tough choices over haredi draft exemptions, legal expert warns
- The 3 little words TV fans can't stop obsessing over
