CVS Health tops 3Q expectations, raises 2022 forecast again

CVS Health topped third-quarter expectations and hiked its 2022 earnings forecast for the third time after booking revenue growth in all three segments of its business. 

The drugstore chain, pharmacy benefit manager and insurer said Wednesday that it now expects adjusted earnings of $8.55 to $8.65 per share for the year, a higher and narrower forecast than it made in August. 

FactSet says analysts predict, on average, earnings of $8.55 per share. 

In the third quarter, adjusted earnings were $2.09 per share, as total revenue climbed 10% to $81.2 billion.