CVS Caremark (CVS) Tops Q2 EPS by 3c; Boosts FY14 EPS Midpoint Guidance

(Updated - August 5, 2014 7:10 AM EDT)

CVS Caremark (NYSE: CVS) reported Q2 EPS of $1.13, $0.03 better than the analyst estimate of $1.10. Revenue for the quarter came in at $34.6 billion versus the consensus estimate of $33.47 billion.

Same store sales increased 3.3% versus the second quarter of last year, with pharmacy same store sales up 5.0% and front store same store sales down 0.4%. Pharmacy same store prescription volumes rose 3.9% on a 30-day equivalent basis.

The Company raised and narrowed its earnings guidance range for the full year 2014. The Company now expects to deliver Adjusted EPS of $4.43 to $4.51, up from $4.36 to $4.50. Consensus expectations are at FY14 EPS of $4.46.

The Company expects to deliver Adjusted EPS of $1.11 to $1.14 and GAAP diluted EPS from continuing operations of $1.04 to $1.07 in the third quarter of 2014. The Street sees Q3 EPS of $1.13.

For earnings history and earnings-related data on CVS Caremark (CVS) click here.

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