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Investing

CVS Profits Rise, Forecast Boosted (CVS, WAG, ESRX)

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By Paul Ausick Published

CVS Caremark Corp. (NYSE: CVS) posted earnings this morning, and EPS rose to $0.81 for the fourth quarter, up from $0.75 a year ago. Analysts had been expecting EPS of $0.89. Revenue also rose, to $28.32 billion, above the consensus estimate of $28.12 billion.

CVS’s Caremark pharmacy benefits management service has benefited from the expiring contract between Walgreen Co. (NYSE: WAG) and Express Scripts Inc. (NASDAQ: ESRX) and the problems that is causing for Walgreen. CVS pharmacy operations are expected to get a boost from the introduction of new generic drugs in 2012, although availability of the drugs has been an issue early.

For 2012, the company expects to post EPS of $3.18-$3.28, and the consensus estimate is for $3.24. For the first quarter, CVS forecast EPS of $0.61-$0.63, compared with the consensus estimate of $0.61.

Shares are up about 1.4% in pre-market trading, at $43.08 in a 52-week range of $31.30-$43.98.

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About the Author Paul Ausick →

Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

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