CNBC August 7, 2024
Key Points
– CVS Health reported second-quarter earnings that topped expectations but slashed its full-year profit outlook, citing higher medical costs that have been squeezing the U.S. insurance industry.
– The drugstore chain expects 2024 adjusted earnings of $6.40 to $6.65 per share, down from a previous guidance of at least $7 per share.
– It marks the third consecutive quarter that the company has lowered its 2024 profit guidance.
CVS Health on Wednesday reported second-quarter earnings that topped expectations, but slashed its full-year profit outlook, citing higher medical costs that have been squeezing the U.S. insurance industry.
The retail drugstore chain also said Aetna President Brian Kane, the top executive at the CVS-owned insurance unit, will leave the company...
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