CVS raises 2021 forecast again after strong third quarter

By TOM MURPHY
AP Health Writer

CVS Health delivered a better-than-expected third quarter and raised its 2021 forecast again as customers returned to its drugstores for prescriptions or COVID-19 vaccinations. The company says it now expects 2021 adjusted earnings per share to range from $7.90 to $8.  That’s nearly a 3% hike at the midpoint of that range from the forecast it made in August. FactSet says analyst expect on average adjusted earnings of $7.79 per share. In the quarter, CVS Health posted adjusted earnings of $1.97 per share on $73.79 billion in revenue. Analysts forecast earnings of $1.79 per share on $70.52 billion in revenue.