Latest news with #Joyner
CNBC
31-07-2025
- Business
- CNBC
CVS beats estimates, hikes adjusted profit outlook on retail pharmacy and insurance unit strength
CVS Health on Thursday reported second-quarter earnings and revenue that topped estimates and raised its adjusted profit outlook, as it sees strength in its retail pharmacy business and some improvement in its insurance unit. The company now expects fiscal 2025 adjusted earnings of $6.30 to $6.40 per share, up from previous guidance of $6 to $6.20 per share. CVS also cut its GAAP earnings guidance, without disclosing additional details. In an interview, CVS CEO David Joyner said the quarterly beat and guidance hike is in part "a tribute to the work and the effort underway within Aetna," the company's insurer. He was referring to a "multi-year recovery effort" at Aetna, which has been grappling with higher medical costs in privately run Medicare plans like the rest of the insurance industry. Joyner added that CVS' retail pharmacy business is "performing really well," demonstrating the company's efforts to introduce new technology that improves pharmacy operations and drives efficiency. He also pointed to the company's investments in labor and its new prescription drug pricing model, which has benefited payers and "separated the pharmacy from the pack." But the company's release said the strength in those two business units was offset by a decline in its health services segment. The results cap off the third full quarter with Joyner, a longtime CVS executive, as chief executive of the retail drugstore chain. Joyner succeeded Karen Lynch in mid-October, as CVS struggled to drive higher profits and improve its stock performance. Here's what CVS reported for the second quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG: The company posted net income of $1.02 billion, or 80 cents per share, for the first quarter. That compares with net income of $1.77 billion, or $1.41 per share, for the year-earlier period. Excluding certain items, such as amortization of intangible assets, restructuring charges and capital losses, adjusted earnings were $1.81 per share for the quarter. CVS booked sales of $98.92 billion for the first quarter, up 8.4% from the same period a year ago due to growth across all three of its business segments. As part of a broader turnaround plan, the company is pursuing $2 billion in cost cuts over the next several years. Joyner told CNBC that the company still has to close a few more locations as part of reaching that target. But he said CVS is also "focusing on being in the right geography," noting that the company is still buying stores in the Pacific Northwest because it doesn't have a big footprint there. All three of CVS' business segments beat Wall Street's revenue expectations for the second quarter. But the company's insurance unit is still under and other insurers have grappled with higher-than-expected medical costs over the last year as more Medicare Advantage patients return to hospitals for procedures they delayed during the pandemic. The insurance unit's medical benefit ratio – a measure of total medical expenses paid relative to premiums collected – increased to 89.9% from 89.6% a year earlier. A lower ratio typically indicates that a company collected more in premiums than it paid out in benefits, resulting in higher profitability. The company said that the increase was driven by a charge of $471 million from a so-called premium deficiency reserve, which is related to anticipated losses in the 2025 coverage year. That refers to a liability that an insurer may need to cover if future premiums are not enough to pay for anticipated claims and expenses. The second-quarter ratio was lower than the 90.6% that analysts were expecting, according to StreetAccount estimates. The insurance business booked $36.26 billion in revenue during the quarter, up more than 11% from the second quarter of 2024. Analysts expected the unit to take in $34.59 billion for the period, according to estimates from StreetAccount. CVS' pharmacy and consumer wellness division booked $33.58 billion in sales for the second quarter, up more than 12% from the same period a year earlier. The company said the increase was partly driven by higher volume at the pharmacy and the front of store, but offset by pharmacy reimbursement expected sales of $31.98 billion for the quarter, StreetAccount said. That unit dispenses prescriptions in CVS' more than 9,000 retail pharmacies and provides other pharmacy services, such as vaccinations and diagnostic testing. CVS' health services segment generated $46.45 billion in revenue for the quarter, up more than 10% compared with the same quarter in 2024. Analysts expected the unit to post $43.37 billion in sales for the period, according to StreetAccount. That unit includes Caremark, one of the nation's largest pharmacy benefit managers. Caremark negotiates drug discounts with manufacturers on behalf of insurance plans and creates lists of medications, or formularies, that are covered by insurance and reimburses pharmacies for prescriptions.
Time of India
15-06-2025
- Time of India
Missiles overhead, sirens blare, flights cancelled: What life looks like for over 40,000 tourists trapped in war-hit Israel
Thousands of tourists in Israel have seen their travel plans ruined after the country's sudden conflict with Iran. Air raid sirens have woken people in the middle of the night, many have rushed to bomb shelters, and some are now searching online for escape routes. According to Reuters, Israel launched a surprise attack on Iran early Friday, closing its airspace and asking people to stay indoors. Around 40,000 tourists are now stuck in the country, the Ministry of Tourism said. Many airlines have cancelled flights until further notice, forcing travellers to either wait or take expensive detours through nearby countries. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Ile-de-france : le programme panneaux solaires 2025 est lancé ! France Éco Infos En savoir plus Undo Justin Joyner, a tourist from California, is visiting Jerusalem with his father and son. He told Reuters they were prepared for some problems due to the ongoing conflict with Hamas, but didn't expect a war with Iran. 'We didn't expect Israel to attack Iran. That is a completely different level of escalation,' Joyner said from his hotel in East Jerusalem, where Iranian missiles have been seen overhead at night. Live Events 'It's unsettling to feel the shockwaves of intercepted missiles above you, and to take your family down to a bomb shelter. That's just something we don't think about in America,' he added. Dr Greer Glazer, from Cleveland in the US, is in Jerusalem for a nursing training programme. She told Reuters she has to run down 10 floors to reach the shelter when sirens go off. 'I feel safe,' she said. 'But waking from a dead sleep and running to the safe room, that's been the hardest. My family is scared to death… They think it's 24/7 destruction, but it's not like that.' Travelling through Jordan Dr Glazer had planned to return home on 29 June but is now trying to leave earlier. The easiest way out is through land borders with Jordan and then a flight from Amman, where the airport is still working during the day. Reuters also reported that US influencer Caitlyn Jenner, who had flown in for Tel Aviv's now-cancelled Pride Parade, left Israel through Jordan. Hours before, she had posted a photo of herself drinking wine in a bomb shelter, writing: 'What an incredible way it has been to celebrate Shabbat.' But not everyone is trying to leave right away. Karen Tuhrim, visiting from London to see her daughter in Tel Aviv, told Reuters: 'Within two days of being here, Israel attacked Iran. So now I'm stuck.' She said Tel Aviv had taken direct hits from Iranian missiles, but she still felt safer being close to her daughter than watching the news from the UK. 'For me, personally, at the moment, I feel better being here than in London, watching it all on the news, knowing my daughter is here. So, for now, we're good,' she said. Israel's Tourism Ministry has opened a 24-hour help desk in English and Hebrew to assist stranded tourists. However, with museums shut, the Old City of Jerusalem closed to outsiders, and many shops locked, the situation remains tense. 'The streets and shops are empty,' local resident Anwar Abu Lafi told Reuters. 'People are yearning for a break, to find something good in this existing darkness. We are deluding ourselves into thinking that the future will be better.' Inputs from Reuters
Yahoo
13-06-2025
- Entertainment
- Yahoo
‘Stronger than the storm' Franklin-Southampton County Fair returns after severe storm last year
COURTLAND, Va. (WAVY) — The Franklin-Southampton County Fair combines the perfect blend of country music, rides and food every year. 'We have had on this little stage in this little county Brad Paisley, Florida Georgia Line, Lady Antebellum [now Lady A], Jason Aldean on these stages because they were so good. We got them early,' said LeeAnn Williams, Franklin-Southampton County Fair Board. 'We are known for our bands. We're very blessed to have them. That's a big draw.' The Franklin-Southampton County Fair will return August 6-9, 2025. The food court looks a lot different this year following the first fair cancellation in over 40 years. 'We had to shut down early because of the weather, but never had we not started one that I know of,' said Glenn Joyner, President of the Franklin-Southampton Fair. NWS: Straight-line winds caused damage to Southampton Co. Fairgrounds On August 4, 2024, the National Weather Service reported straight-line wind, as strong as a minor tornado, damaged trees and the concession stand. 'The good Lord saved us. We're all OK' Franklin-Southampton County Fair canceled following Sunday storm Joyner tells 10 On Your Side that he was at the Franklin-Southampton County Queens pageant when he got the call from Midway and set up crews. 'He said, 'Glenn you need to get out here! You need to get here quickly,' said Joyner. 'We got here as quick, as safe as we could. I didn't believe it when I pulled in. The building was turned upside down. There was a sink that we had in the kitchen. It was actually stuck up in the trees. The first couple of weeks, it was just devastation. Sheriff Josh Wyche Sr., Southampton County Sheriff's Office adds, 'It's one thing when you hear about it and you're coming to it. But when you get here on the grounds, you see the devastation that came through.' 'I'm going to look out for them': The Graceful Baker will donate 10% of proceeds to Southampton Co. Fair On May 31, 2025, the first-ever 'Fair Jam' celebration showcased the new food and meeting building. 'It means a lot more than just a food court. It was disappointing that we were able to have a fair last year but gave us an opportunity to see something that we'd never seen before. So many local businesses stepped forward and paired up with the fair and helped us when they didn't have to. It was amazing to see the community come together like that. That was a once-in-a-lifetime experience,' said Bunn. Longtime Board Member Williams said the new features excite her the most including a new bathroom with air conditioning. 'Now we have a real kitchen with appliances. The building has been painted,' said Williams. 'We're all volunteers. We do it because we love it. If you don't love it, then you don't do it. You know a lot of people, they've come and gone, but us old people, it's probably time for me to go. It's just in my heart!' Joyner concludes, 'It's been a long, long year on my part because I'm doing a lot of, I've been the middle person getting everything playing, getting everything laid out, getting the contractors lined up. But I never doubted once that we wouldn't have our fair this year because of it!' 'The good Lord is willing. We have good weather this year. We have a good turnout for this year!' To buy tickets visit Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
27-05-2025
- Climate
- Yahoo
ETSU preps for start of hurricane season while reflecting on Helene
JOHNSON CITY, Tenn. (WJHL) — With the start of hurricane season only days away, East Tennessee State University is warning the Tri-Cities region to be prepared in case of another storm's arrival. In September 2024, Hurricane Helene caused widespread devastation to the area despite the distance from the coast. ETSU to play Louisville in first round of NCAA tournament Tennessee State Climatologist Andrew Joyner, a faculty member of the ETSU Department of Geosciences, urged the people of the Tri-Cities to stay on top of hurricane forecasts this season. 'We may not get direct hits from hurricanes like coastal areas do,' Joyner said in a news release. 'But the remnants of those storms can still bring serious impacts, especially when the season is active.' The 2025 hurricane season is expected to be active, the release states. Hurricane season begins June 1 and runs through Nov. 30. According to the forecasters at Colorado State University, a higher-than-average number of storms have been predicted for the 2025 hurricane season. Joyner said the main threat to the Appalachian region is not the winds of the hurricanes, but the water. 'Flash flooding is our biggest concern,' Joyner said. 'With these systems, it's not uncommon to see significant rainfall spread hundreds of miles inland, and the narrow valleys and steep terrain of our region make us especially vulnerable.' During Helene, streamflow at Embreeville reached more than 80,000 cubic feet. ETSU noted that streamflow is more than 130 times the average. Helene triggered flooding that left numerous dead and historic destruction that several communities are still recovering from. 'It's a generational event, and one we'll be studying for years,' Joyner said of Helene. 'These types of storms have impacted Appalachia before, but may become more frequent and more intense, and we need to plan accordingly.' The Tennessee Climate Office, which is housed at ETSU, is working to develop emergency mitigation strategies and public policy in preparation for future storms. Joyner urged people in the area to pay close attention to forecasts and create their own plan in the event of another disaster like Helene. 'Remember that even if we're not in a coastal zone, hurricanes can still hit home in ways that matter,' Joyner said. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
USA Today
14-05-2025
- Sport
- USA Today
This college national championship's brutal hole location led to players crying
This college national championship's brutal hole location led to players crying The scene at the fifth hole of the NAIA Women's Championship on Tuesday was so bad it reduced some to tears. The number of 9s, 10s and 12s posted on the menacing par 5 at Eagle Crest Golf Club was nothing short of shocking. In the field 156, 90 players made a score of double or worse. Only three players made birdie. 'At the end, I was basically calling it a par 7,' said Southeastern coach David Joyner, whose team posted scores of 9, 8, 7, 7, 6. 'If you got lucky and putted it a foot past the hole, a perfect putt, it had a chance to stay,' said Joyner. 'If it wasn't in that perfect spot, it rolled back down to your feet.' Some of the best players in the field six- and seven-putted. The field's scoring average on the hole was 6.97. Joyner's team went through the hole in the morning, but as things warmed up in the afternoon, players spent over an hour waiting on the tee box to hit as entire teams – players 1-5 – were backed up. The wait was so long, in fact, coaches were worried about the lack of bathrooms. Here's more on the story.
