CVS Well being raised its full-year earnings outlook as the pharmacy chain’s clients race to get vaccinated in opposition to Covid-19 or examined for the virus because the Omicron variant surges throughout the U.S.
In a filing with the Securities & Exchange Commission forward of administration’s look on the digital J.P. Morgan Healthcare Convention, CVS stated it has raised its full yr 2021 diluted earnings per share steerage “vary to $5.87 to $5.92 from $5.50 to $5.61 and raised its full yr 2021 adjusted earnings per share steerage vary to $8.33 to $8.38 from at the very least $8.00.
The Covid-19 pandemic has been a turbulent interval for drugstore chains like Walgreens and rival CVS Well being as they battled authorities shutdowns early on and clients who didn’t need to depart their properties.
Recently, nevertheless, pharmacy chains are on a roll with clients in search of checks, vaccines and different well being objects in drugstores. CVS inventory has been close to or above a 52-week excessive and Walgreens final week reported web revenue of $3.58 billion, or $4.13 in comparison with a lack of $308 million, or 36 cents a share within the year-ago quarter.
CVS, which studies its fourth quarter and full-year