As it reported fourth-quarter financials, CVS announced that it had established a new Pharmacy & Consumer Wellness segment, which includes its retail and long-term care pharmacy operations and related pharmacy services, as well as its front store operations, which includes general merchandise.
Net income was $2.05 billion, or $1.58 per diluted share, versus $2.33 billion, or $1.77 per diluted share, in the year-previous quarter. Adjusted for one-time events, net income was $2.74 billion, or $2.12 per diluted share, versus $2.69 billion, or $2.04 per diluted share, in the year-before period, CVS stated.
CVS beat a Zacks Investment Research analyst consensus estimate for adjusted diluted earnings per share by 5.5% and for revenues by 3.3%.
Revenues were $93.81 billion versus $83.85 billion in the year-earlier quarter, the company noted. Operating income was $3.37 billion versus $3.66 billion in the year-prior period, while adjusted operating income was $4.23 billion versus $4.08 billion.
In the new Pharmacy & Consumer Wellness segment, front store comparable sales slipped 3.1% in the quarter year over year as total comps advanced 11.3%.
For the full year, net income was $8.34 billion, or $6.47 per diluted share, versus $4.31 billion, or $3.26 per diluted share, in the previous year. Adjusted net income was $11.27 billion, or $8.74 per diluted share, versus $11.94 billion, or $9.03 per diluted share, in the year before, CVS reported.
Revenues were $357.78 billion versus $322.47 billion in the annum earlier, the company indicated. Operating income was $13.74 billion versus $7.95 billion in the year prior, while adjusted operating income was $17.53 billion versus $18.04 billion.
