FX.co ★ CVS Health Slashes FY24 Outlook; Stock Down 11% - Update

During CVS Health's financial results announcement for the first quarter, the company reduced its projected earnings and adjusted earnings for 2024. This forecast takes into account the possibility of sustained high medical cost trends for the rest of the year.

For the fiscal year 2024, CVS Health is predicting earnings of at least $5.64 per share and adjusted earnings of at least $7.00 per share. In the past, the organization projected earnings of at least $7.06 per share and adjusted earnings of at least $8.30 per share.

On average, 27 financial analysts surveyed by Thomson Reuters anticipate that the company will report earnings of $8.28 per share for the year, excluding unique items and deals.