Becker's Healthcare May 1, 2024
CVS Health cut its earnings guidance for 2024 based on rising medical costs.
CVS Health reported $1.1 billion in net income in the first quarter of 2024, according to its latest earnings documents, published May 1. The results were below investors’ expectations, The Wall Street Journal reported.
The healthcare giant revised its 2024 earnings per-share guidance to at least $5.64 from at least $7.06. This is the second time CVS has cut its earnings guidance this year based on rising medical cost trends, especially among the Medicare Advantage population.
“The current environment does not diminish our opportunities, enthusiasm, or the long-term earnings power of our company,” CVS CEO Karen Lynch said. “We are confident we have a...
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