CVS raises 2022 forecast after better-than-expected 1Q

Published May 4, 2022 5:55 AM

Associated Press

COVID-19 vaccines and tests for the virus continued to boost CVS Health in the first quarter, and the health care giant finally raised its annual forecast. The drugstore chain and pharmacy benefit manager said Wednesday that it now expects earnings of $8.20 to $8.40 per share for 2022. The new range mostly eclipses the average analyst expectation for $8.26 per share, according to FactSet. CVS Health shares had slipped in February when the company reported fourth quarter results that easily topped expectations but didn’t hike its 2022 forecast. CVS Health earned $2.31 billion in the first quarter.

Article Topic Follows: AP National Business

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