Summary
CVS Health Corporation (CVS) announced an upward revision to its full-year 2021 earnings per share (EPS) guidance in an 8-K filing on January 11, 2022. The company raised its GAAP diluted EPS range to $5.87-$5.92 from $5.50-$5.61 and its Adjusted EPS guidance to $8.33-$8.38 from at least $8.00. This guidance update reflects stronger-than-anticipated performance as the company heads into its final financial closing procedures for the year. Furthermore, CVS Health affirmed its full-year 2022 EPS guidance, projecting a GAAP diluted EPS range of $7.04-$7.24 and an Adjusted EPS range of $8.10-$8.30. The filing also provided reconciliations for the adjusted EPS figures, detailing non-GAAP adjustments such as amortization of intangible assets, acquisition-related integration costs, store impairments, goodwill impairment, and debt extinguishment losses. Investors should note that these are preliminary estimates and actual results may vary.
Key Highlights
- 1Full-year 2021 GAAP diluted EPS guidance increased to $5.87-$5.92 (from $5.50-$5.61).
- 2Full-year 2021 Adjusted EPS guidance increased to $8.33-$8.38 (from at least $8.00).
- 3Full-year 2022 GAAP diluted EPS guidance affirmed at $7.04-$7.24.
- 4Full-year 2022 Adjusted EPS guidance affirmed at $8.10-$8.30.
- 5Guidance updates are based on preliminary financial estimates and are subject to completion of year-end closing procedures.
- 6The filing includes reconciliations of GAAP to Adjusted EPS, detailing significant non-GAAP adjustments.
- 7Notable non-GAAP adjustments for 2021 include store impairments related to planned store closures and losses from debt extinguishment.