Amid Headwinds, CVS Beats Street’s 3Q Earnings Estimate

  • Nov 04, 2022

    CVS Health Corp., the parent company of insurance firm Aetna, reported solid results in the third quarter, beating Wall Street earnings projections. However, the company also acknowledged headwinds including declining Medicare Advantage Star Ratings, the loss of Centene Corp.'s PBM business, a major legal settlement over opioid overprescribing, and losses posted by newly acquired divisions.  

    The insurer reported $2.09 in adjusted earnings per share (EPS), beating the Wall Street consensus projection of $2.00. Executives project an end-of-year adjusted EPS of $8.55 to $8.65, slightly up from a previous projection of $8.40 to $8.60. Total revenues across the firm increased by 10% year over year to $81.2 billion.  

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  • Peter Johnson

    Peter has been a reporter for nearly a decade. Before joining AIS Health, Peter covered a wide variety of topics in his hometown of Seattle, where he continues to live. Peter’s work has appeared in publications including The Atlantic and The Stranger. Peter attended Colby College.

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