Year-over-year earnings were down and revenues were up for CVS Health in its fourth quarter, but both results beat Wall Street estimates.
Company net income was $1.64 billion, or $1.30 per diluted share, versus $2.05 billion, or $1.58 per diluted share in the year-previous quarter. Adjusted for one-time charges, company net income was $1.51 billion, or $1.19 per diluted share, versus $2.74 billion, or $2.12 per diluted share, in the year-before period.
A Zacks Investment Research analyst consensus estimate called for earnings per adjusted diluted share of 89 cents and revenues of $97.06 billion.
Total revenues were $97.71 billion versus $93.81 billion in the year-earlier quarter, the company reported. Operating income was $2.37 billion versus $3.37 billion in the year-prior period, while adjusted operating income was $2.73 billion versus $4.23 billion.
In the Pharmacy & Consumer Wellness segment, total revenues were $33.51 billion versus $31.19 billion in the year-past quarter. Operating income decreased to $1.69 billion from $1.96 billion in the period year over year, while adjusted operating income slipped to $1.76 billion from $2.03 billion. Front-store comparable sales, which includes general merchandise results, slipped 1.2% in the quarter year over year.
For the full fiscal year, company net income was $4.61 billion, or $3.66 per diluted share, versus $8.34 billion, or $6.47 per diluted share, in the annum previous. Adjusted company net income was $6.84 billion, or $5.42 per diluted share, versus $11.27 billion, or $8.74 per diluted share, in the year before.
Total revenues were $372.81 billion versus $357.78 billion in the year earlier, CVS indicated. Operating income was $8.52 billion versus $13.74 billion in the year prior while adjusted operating income was $11.98 billion versus $17.53 billion.
In announcing the financial results, David Joyner, CVS Health president and CEO, said, “Our integrated model allows us to uniquely deliver a simpler, connected experience that saves time, saves money, and improves health. We have continued to see growth in key areas of our business, including the Pharmacy and Consumer Wellness segment, while we address the industrywide challenges that have impacted our Health Care Benefits segment. Through the continued dedication of our colleagues, we will be positioned for strong performance in 2025 as we deliver simply better care for consumers while improving outcomes and reducing costs.”
