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CVS Health Q4 profit climbs 7.6% YOY

CVS Health Corp. said its normalized net income for the fourth quarter amounted to $1.82 per share, compared with the S&P Capital IQ consensus estimate of $1.88 per share.

EPS increased 13.0% year over year from $1.61.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.85 billion, a gain of 7.6% from $1.72 billion in the prior-year period.

The normalized profit margin rose to 3.8% from 3.7% in the year-earlier period.

Total revenue increased 5.3% on an annual basis to $48.38 billion from $45.97 billion, and total operating expenses grew 5.2% on an annual basis to $45.18 billion from $42.94 billion.

Reported net income increased 91.7% from the prior-year period to $3.27 billion, or $3.21 per share, from $1.71 billion, or $1.60 per share.

For the year, the company's normalized net income totaled $5.40 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $5.88.

EPS declined from $5.49 in the prior year.

Normalized net income was $5.53 billion, a decline of 6.6% from $5.93 billion in the prior year.

Full-year total revenue rose year over year to $184.76 billion from $177.53 billion, and total operating expenses increased year over year to $174.72 billion from $166.92 billion.

The company said reported net income rose 24.7% on an annual basis to $6.60 billion, or $6.45 per share, in the full year, from $5.30 billion, or $4.91 per share.