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Pedestrians walk by a CVS store on November in San Francisco, California.
CVS Health on Wednesday reported mixed fourth-quarter results.
Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:
- Earnings per share: $2.14, adjusted, vs. $2.05 expected
- Revenue: $54.42 billion vs. $54.58 billion expected
For the full year of 2019, CVS forecasts adjusted earnings between $6.68 and $6.88 per share, below the $7.41 per share analysts polled by Refinitiv had expected. The company did not give a revenue forecast. The Street had expected $247.61 billion for the year.
Shares of CVS fell 5 percent Wednesday in premarket trading.
CVS closed its $70 billion acquisition of health insurer Aetna in November. In addition to the price CVS paid to buy the company, it will need to spend money integrating the insurer and bringing its vision for the combined company to life.
Executives warned investors at the J.P. Morgan Healthcare Conference in January that CVS would face more headwinds than tailwinds this year, with headwinds including pricing and reimbursement pressures and increased investment.
Last week, CVS unveiled its HealthHUBs, or concept stores that contain fewer traditional drugstore items like greeting cards and more health services like blood draws and health screenings. CVS has said the combined company has a capital expenditure of about $2.6 billion annually it can use to remodel stores.
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