CVS Health reports strong Q1 FY-2022 results to outpace estimates

3 min read | May 05, 2022 06:12 AM AEST | By Team Kalkine Media

CVS Health reports strong Q1 FY-2022 results to outpace estimates — Image source: © Hisdx15 | Megapixl.com

Key achievements of 2022 first quarter

CVS Health Corporation was at the forefront in addressing the nation’s pandemic response. It successfully administered over six million COVID-19 tests and provided more than eight million COVID-19 vaccine doses in the first quarter of 2022.

The company raised the quarterly dividend by 10% from February 1, 2022. As a result, it returned US$722 million to shareholders in the reported quarter.

CVS also bought back stock for the first time since 2017 by repurchasing approximately 19.1 million shares of common stock in the first quarter.

CVS 2022 Full-Year Guidance

On a GAAP basis, the company now expects its diluted EPS to be between US$6.93 and US$7.13 in fiscal 2022, down from its previous guidance range of US$7.04 to US$7.24. As for the full-year 2022 Adjusted EPS guidance range, it raised to US$8.20 to US$8.40 from US$8.10 to US$8.30.

The Company also revealed its full-year 2022 cash flow from operations guidance range of US$12.0 billion to US$13.0 billion.

Bottom line:

CVS has a market cap of US$132.40 billion, a P/E ratio of 16.89, and a forward one-year P/E ratio of 11.66. Its EPS is US$5.96.

The 52-week highest and lowest stock prices were US$111.25 and US$78.75, respectively. Its trading volume was 5,894,367 on May 3.

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