Dec 9 (Reuters) - CVS Health (CVS) on Tuesday forecast 2026 profit above Wall Street estimates and this year's projected earnings, signalling steady progress in the health conglomerate's turnaround plan.
CVS stock rose 5% in early trading on Tuesday.
The company in October projected double-digit earnings growth for 2026 after raising its 2025 profit forecast for the third time.
"We are closing out 2025 with meaningful momentum across our businesses and we expect another year of strong earnings growth in 2026," said Chief Financial Officer Brian Newman on Tuesday.
The company forecast 2026 adjusted profit to be in the range of $7.00 to $7.20 per share, compared with analysts' average estimate of $7.16, according to data compiled by LSEG.
It, however, expects total revenue of at least $400 billion next year, below analysts' average estimate of $419.26 billion.
CVS also raised its 2025 adjusted profit forecast to $6.60 to $6.70 per share from $6.55 to $6.65 previously.
(Reporting by Sneha S K in Bengaluru; Editing by Shinjini Ganguli)
LATEST POSTS
- 1
New movies to watch this weekend: See 'Wake Up Dead Man: A Knives Out Mystery' in theaters, rent 'Bugonia,' stream 'Caught Stealing' on Netflix - 2In vogue Sleepwear Patterns for 2024
- 3Massive supernova explosion may have created a binary black hole
- 4Exploiting Unsold Rams: May Be Less expensive Than You Suspect
- 5'Wuthering Heights' trailer features Margot Robbie and Jacob Elordi in a steamy forbidden romance
- 10 Demonstrated Tips to Boost Your New Android Cell phone: A Thorough Aide
- Limited Rain Chances in Brazil Boost Coffee Prices
- Etymological Experiences on the Wireless transmissions: A Survey of \Learning in a hurry\ Language Web recording
- Step by step instructions to Prepare with Senior Protection for Inward feeling of harmony.
- Munich Security Conference chief defends inviting AfD lawmakers
- How does Spotify Wrapped calculate your listening age? What your number says about you.
- Kate Hudson, 46, says she doesn't need long workouts to feel good
- Building an Individual Brand: Illustrations from Powerhouses
- Poll: Only 25% of Americans think Trump has 'followed through' on his promise to release the Epstein files
