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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