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CVS Health Corporation Sees Decrease in Fourth Quarter 2023 Earnings Amidst Impressive Revenue Growth

Despite Revenue Surge, CVS Health Corporation Suffers 9.26% Reduction in Profitability, Outperforming Competitors in the Pharmacy Services & Retail Drugstore Sector


Published Feb 07 2024 / Modified Feb 07 2024
CSIMarket Team / CSIMarket.com


Pharmacy_interior_Joe_Mabel_[CC-BY-SA-3.0_(http_creativecommons.org_licenses_by-sa_3.0)]_via_Wikimedia_CommonsCVS Health Corporation, a leading Pharmacy Services & Retail Drugstore company, experienced a slight decline in its shares during the month of February 2024.
The shares dropped by -0.22%,
bringing the year-to-date performance to -8.77%. Currently trading on the NYSE, CVS Health Corporation's shares are valued at 1% above its 52-week average.

During the period from October to December 2023, CVS Health Corporation witnessed a reduction in its earnings per share (EPS) despite a significant increase in revenue.
The profitability decreased by -9.26% to $1.59 per share, while the revenue grew extensively by 11.887% to $93.81 billion compared to the same period the previous year.
This growth in revenue outpaced the top-line performance of most other companies in the Pharmacy Services & Retail Drugstore sector, as they reported an average revenue advance of 11.61% in the fourth quarter of 2023 compared to the previous year.

However, compared to the prior reporting period, EPS decreased by -9.16% from $1.75 per share, and the revenue advanced by 4.511% from $89.76 billion.
Additionally, the net income for the fourth quarter of 2023 earnings season fell by -11% to $2,047.000 million from $2,300.000 million in the corresponding period a year before.

In an effort to improve sales in the fourth quarter of 2023, CVS Health Corporation focused on enhancing its net margin, which eased to 2.18%. Although the company's stockpiles increased to $18,025.0 million due to the seasonal nature of its business, they remain below the previous year's level of $19,090.0 million.
The operating earnings also saw a decline of -6.77% to $3373 million, resulting in a squeeze on CVS Health Corporation's operating margin, which dropped to 3.6% from 4.32% in the fourth quarter of 2022.
Moreover, the increase in accounts receivable indicates rising demand, as they were valued at $35,227.0 million, surpassing the preceding quarter.

When examining the sales results for the fiscal year 2023, CVS Health Corporation disclosed a revenue of $357.78 billion and net profits of $8.37 billion.
The company also highlighted that EPS surged by 106.05% to $6.47 per share from $3.14 in the previous fiscal year, with revenue advancing by 10.95% from $322.47 billion.

To discuss the fourth quarter and full year 2023 financial results, CVS Health Corporation will hold a conference call with analysts and investors on February 7, 2024, at 8:00 a.m.
ET.
An audio webcast of the event will be available for broadcast.

Overall, while CVS Health Corporation experienced a slight decline in its shares during February 2024, the company's focus on improving sales and its promising revenue growth indicate potential for future success.
Investors and analysts are eagerly awaiting the upcoming conference call to gain further insights into the company's financial performance.



Cvs Health's Price to sales ratio PS

Cvs Health's Revenue Growth



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