CVS (NYSE: CVS) announced on Monday that its fourth-quarter profit rose 3.7 percent as a result of growing pharmacy services and retail revenue, though a muted flu season coupled with weaker-than-expected holiday sales slowed the results down.According to the Wall Street Journal, CVS's full-year earnings guidance was raised by 3 cents per share , with CVS expecting to see tremendous benefit of business being driven away from Walgreen (NYSE: WAG).CEO and President Larry Merlo said that the company was seeing a significant number of transfers from Walgreen in the current quarter, thanks partly because of campaigns to court those very
customers through the CVS doors.Goldman Sachs said in a report on Wednesday that, “CVS' 4Q2011 results and 2012 guidance contained few surprises, which was the expected course given the issuance of guidance with 11 days left in the quarter. Adjusted EPS of $0.89 vs. $0.90 a year ago met our forecast and consensus, and tracked in the middle of the $0.87-$0.91 range. The firm raised 2012 guidance by $0.03 to reflect the impact of the WAG-ESRX dispute for the first quarter, hiking its range by $0.03 on either end to $3.15-$3.28; we stand at $3.38, based on no resolution to the conflict, while the Street is at $3.24.”Meanwhuile, Citi said that, “CVS reported 4Q11 adj. EPS from ...
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