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News Breaks
February 11, 2014
08:30 EDTCVSCVS Caremark sees Q1 net revenue growth 4.25%-5.5%, consensus $32.06B
Sees Q1 retail pharmacy net revenue growth 3%-4.5%, SSS up 1.75%-3.25%. Sees pharmacy services net revenue growth 5.5%-6.75%. Sees FY14 net retail revenue growth 0.75%-2%, PBM net revenue growth 7.25%-8.5%. Says exiting tobacco category does not affect 2014 segment operating profit guidance, EPS guidance or five-year financial targets provided at 2013 Analyst Day. Says had "overwhelmingly positive response across an array of key constituents." Regarding the impact of the Affordable Care Act, CVS says that although it remains to be seen how many people ultimately gain coverage this year, but says recent progress is "encouraging". Sees modest net positive benefit from health reform this year. Says expects to return over $5B to shareholders in 2014; says on track to achieve targeted payout ratio of 25% during 2014, more than a year ahead of schedule. Comments from slides that will be presented on the Q4 earnings conference call.
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