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
Indian rocket launches record-breaking BlueBird 6 smartphone satellite to orbit (video) - 2Get Cooking: 15 Speedy and Heavenly Recipes for Occupied Individuals
- 3Haifa refinery said hit in latest Iranian missile barrage
- 4South Carolina measles outbreak grows by nearly 100, spreads to North Carolina and Ohio
- 55 Great High-Mileage Electric Vehicles Of 2024
- The Fragrant Small Tree Birds & Pollinators Love With Stunning Flowers In Summer
- Child influencers helped power a booming industry. It's time for a reckoning.
- Saturn shines with the waxing moon at sunset on Nov. 29
- Doctors say changes to US vaccine recommendations are confusing parents and could harm kids
- Transform the daily grind to make life more interesting – a philosopher shares 3 strategies to help you attain the good life
- Skeleton of famed musketeer possibly found in Dutch church
- After fleeing past Hezbollah fighting, some Israelis on northern border vow to stay
- The Latest: Fueling begins as NASA aims to send 1st crew to the moon in 53 years
- People who talk with their hands seem more clear and persuasive – new research
