For the fourth quarter, CVS Health posted company income from continuing operations of 1.3 billion, or 98 cents per diluted share, versus $984 million, or 75 cents per diluted share, in the period a year earlier.
Adjusted for one-time events, diluted earnings per share were $1.98 versus $1.30 in the quarter a year prior, the company maintained.
CVS beat a Yahoo Finance-published analyst average estimate for adjusted diluted earnings share of $1.93 and revenue of $75.67.
Total revenues were $76.6 billion versus $69.55 billion in the quarter a year before. Operating income was $2.23 billion versus $2.52 billion in the quarter a year previous while adjusted operating income was $4.15 billion versus $2.95 billion, the company reported.
In the Retail/LTC segment, total revenues gained to $27.11 billion from $24.06 billion in the quarter year over year and adjusted operating income advanced to $2.46 billion from $1.76 billion. Front store comparable sales, including general merchandise, gained 18.9% from the quarter in the year past.
For the full fiscal year, CVS posted company income from continuing operations of $7.9 billion, or $5.95 per diluted share, versus $7.2 billion, or $5.47 per diluted share in the year earlier.
Adjusted diluted earnings per share were $8.40 versus $7.50 in the year prior.
Total revenues were $292.11 billion versus $268.71 billion in the year before, the company noted. Operating income was $13.19 billion versus $13.91 billion in the year previous while adjusted operating income was $17.31 billion versus $16.01 billion.
In a conference call, Karen Lynch, CVS Health president and CEO, said that the company expects the strong front store sales momentum to continue through 2022 and help drive financial gains.
In announcing the financial results, she said, “We’re engaging millions of customers across our businesses and in our community health destinations, becoming an even bigger part of their everyday health. That’s clearly reflected in our performance, but more importantly in our potential,” said Karen S. Lynch, CVS Health president and CEO in announcing the financial results.
