Growing prescriptions help push CVS past Q2 expectations

KIFI

Published August 3, 2022 8:59 AM

By TOM MURPHY
AP Health Writer

CVS Health thumped second-quarter expectations and hiked its full-year forecast as growing prescription claims helped balance a drop in vaccinations. The drugstore chain, pharmacy benefit manager and insurer said Wednesday it now expects adjusted earnings of $8.40 to $8.60 per share for 2020. That represents a 20-cent hike at both ends of the range from its previous forecast. FactSet says analysts forecast, on average, earnings of $8.35 per share. CVS operates one of the nation’s largest drugstore chains with nearly 10,000 retail locations. It also provides insurance and runs prescription drug plans for big clients like insurers.

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