CVS Health Slashes FY24 Outlook; Stock Down 11% - Update

(RTTNews) - While reporting financial results for the first quarter on Wednesday, CVS Health (CVS) slashed its earnings and adjusted earnings guidance for the full-year 2024, reflecting the potential for continued elevated medical cost trends in the remainder of 2024.

For fiscal 2024, the company now projects earnings of atleast $5.64 per share and adjusted earnings of atleast $7.00 per share.

Previously, the company expected earnings of atleast $7.06 per share and adjusted earnings of atleast $8.30 per share.

On average, 27 analysts polled by Thomson Reuters expect the company to report earnings of $8.28 per share for the year. Analysts' estimates typically exclude special items.

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