CVS Health reduces 2024 earnings outlook from $8.30 to $7 due to Medicare Advantage cost struggles.
CVS Health Corp. has reduced its 2024 earnings outlook by over a dollar due to persistent cost struggles with its Medicare Advantage business, which experienced increased outpatient care usage and supplemental benefits. The company now expects adjusted earnings of at least $7 in 2024, down from a previous forecast of at least $8.30. In the first quarter, CVS Health reported adjusted earnings of $1.31 per share on total revenue of $88.4 billion, falling short of analysts' expectations.
May 01, 2024
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