CVS Health (CVS) Tops Q3 EPS by 7c; Trims, Narrows FY16 EPS Outlook
CVS Health (NYSE: CVS) reported Q3 EPS of $1.64, $0.07 better than the analyst estimate of $1.57. Revenue for the quarter came in at $44.6 billion versus the consensus estimate of $45.29 billion.
CVS noted, Adjusted EPS excludes $197 million and $160 million of intangible asset amortization for the three months ended September 30, 2016 and 2015, respectively. Adjusted EPS for the three months ended September 30, 2016 also excludes $65 million of acquisition-related integration costs and the loss on early extinguishment of debt of $101 million.
GUIDANCE:
CVS Health sees FY2017 EPS of $5.77-$5.93, versus the consensus of $6.53.
CVS Health sees FY2016 EPS of $5.77-$5.83, versus prior guidance of $5.81-$5.89 and the consensus of $5.85.
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