WOONSOCKET (dpa-AFX) - CVS Health Corp. (CVS) reported on Wednesday a net profit for the fourth quarter that decreased from last year, primarily due to a decline in the Health Care Benefits segment's operating results amid higher healthcare costs. However, revenues improved 4.2 percent from last year. The company also initiated its adjusted earnings guidance for the full-year 2025.
In pre-market activity on the NYSE, CVS shares are trading at $60.35, up $5.35 or 9.73 percent.
For the fourth quarter, the company reported net income attributable to the company of $1.64 billion or $1.30 per share, lower than $2.05 billion or $1.58 per share in the prior-year quarter.
Excluding items, adjusted income attributable to the company for the quarter was $1.51 billion or $1.19 per share, compared to $2.74 billion or $2.12 per share in the year-ago quarter.
Total revenues for the quarter grew 4.2 percent to $97.71 billion from $93.81 billion in the same quarter last year, driven by growth in the Health Care Benefits and Pharmacy & Consumer Wellness segments, partially offset by a decline in the Health Services segment.
Health Care Benefits segment revenues grew 23.3 percent to $32.96 billion from $36.32 billion and Pharmacy & Consumer Wellness segment revenues grew 7.5 percent to $33.51 billion, while Health Services segment revenues decreased 4.3 percent to $47.02 billion from last year.
Health care costs increased 32.1 percent to $29.54 billion from $22.52 billion in the year-ago quarter. Health care costs as a percentage of premium revenues expanded 630 basis points to 94.8 percent from last year.
Looking ahead for 2025, the company now projects earnings in a range of $4.58 to $4.83 per share, and adjusted earnings in the range of $5.75 to $6.00 per share.
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