CVS Health hikes 2025 forecast again, boosted by insurance, pharmacy businesses
In the second quarter CVS Health reported adjusted earnings of 1.81 per share as revenue grew 8 percent to 98.9 billion. Analysts had been looking for earnings of 1.46 per share on 94.51 billion according to the data firm FactSet. CVS Health Corp. based in Woonsocket Rhode Island runs one of the nation's largest drugstore chains and a huge pharmacy benefit management business that operates prescription drug coverage for employers insurers and other big clients. It also covers nearly 27 million people through its Aetna insurance arm.
Several health insurance companies have reported disappointing earnings so far for the second quarter in part due to spikes in care use that turned out higher than the companies anticipated when they set rates for the year. CVS Health had its own struggles with rising claims last year when it cut its forecast several times and former CEO Karen Lynch stepped down.
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