CVS Health beats 4Q expectations, 2019 forecast falls short

CVS Health beats 4Q expectations, 2019 forecast falls short
FILE- In this Aug. 7, 2018, file photo a CVS Pharmacy building sign rests on a Jackson, Miss., store. CVS Health topped fourth-quarter earnings forecasts, but the nation’s second-largest drugstore chain also debuted a 2019 outlook that fell far short of Wall Street expectations. The company said Wednesday, Feb. 20, 2019, that it expects adjusted earnings to range between $6.68 and $6.88 this year. FactSet says analysts expect earnings of $7.35 per share. (AP Photo/Rogelio V. Solis, File)

CVS Health is topping fourth-quarter earnings forecasts, but the annual outlook from the nation’s second-largest drugstore chain is far short of Wall Street expectations.

The company said Wednesday that it expects adjusted earnings to range between .68 and .88 this year. FactSet says analysts expect earnings of .35 per share.

In the final quarter of 2018, CVS Health posted adjusted earnings of .14 per share, as revenue jumped more than 12 percent to .24 billion.

Analysts expected earnings of .09 per share and .61 billion in revenue, according to FactSet.

CVS Health Corp., based in Woonsocket, Rhode Island, runs more than 9,900 retail locations and processes over a billion prescriptions annually as a pharmacy benefit manager.

It also has largely completed a roughly -billion acquisition of the insurer Aetna.