In the second quarter, CVS Health topped analyst estimates although front end comparable sales slipped slightly after a 10% gain in the 2022 period.
An analyst consensus estimate published by Yahoo Finance called for adjusted diluted sales of $2.11 per share on revenues of $86.53 billion.
Total revenues were $88.92 billion versus $80.64 billion in the year-earlier quarter, the company maintained. Operating income was $3.23 billion versus $4.67 billion in the year-prior quarter while adjusted operating income was $4.48 billion versus $5 billion.
In the CVS Pharmacy & Consumer Wellness segment, total revenues were $28.78 billion versus $26.75 billion in the year-past quarter as adjusted operating income slipped to $1.41 billion from $1.71 billion. Comparable sales increased 10.9% year over year in the quarter, but the front-end component of that metric, which covers general merchandise including housewares, slipped 0.3%.
In announcing the financial results, Karen Lynch, CVS Health president and CEO, said, “Our diversified business model delivered strong results this quarter. We continue to execute on our strategy to expand access to health services across our care delivery channels and strengthen our engagement with consumers to improve their health and well-being.”
