CVS Health Q1 Profit Rises; Updates 2015 Guidance - Quick Facts

(RTTNews) - CVS Health Corp. (CVS) reported that its first-quarter net income increased to $1.22 billion, compared with approximately $1.13 billion, prior year. GAAP earnings per share was $1.07 compared to $0.95. Adjusted earnings per share for the three months ended March 31, 2015 was $1.14.

On average, 21 analysts polled by Thomson Reuters expected the company to report profit per share of $1.08 for the quarter. Analysts' estimates typically exclude special items.

Net revenues increased 11.1% to $36.33 billion from last year. Analysts expected revenue of $35.93 billion for the quarter.

The company raised the low end of its EPS guidance range for the full year 2015. The company now expects to deliver Adjusted EPS of $5.08 to $5.19, up from $5.05 to $5.19, and GAAP EPS from continuing operations of $4.80 to $4.91, up from $4.77 to $4.91. Analysts expect the company to report fiscal 2015 earnings per share of $5.16.

The company expects Adjusted EPS of $1.17 to $1.20 and GAAP EPS from continuing operations of $1.10 to $1.13 in the second quarter of 2015. Analysts expect the company to report second-quarter earnings per share of $1.25.