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CVS reaffirms FY'19 outlook

CVS Health Corp. on June 4 reaffirmed its full-year 2019 projections as it outlined initiatives to accelerate growth and increase shareholder value at its Investor Day presentation.

The pharmacy business said it continues to expect consolidated revenue to come in between $251.2 billion and $254.4 billion and adjusted EPS to range from $6.75 to $6.90. GAAP diluted EPS is forecast to come in between $4.90 and $5.05, while GAAP operating income is expected to range between $11.8 billion and $12 billion.

Over the long term, CVS expects adjusted EPS of at least $7.00 in 2020, mid-single-digit percent adjusted EPS growth in 2021, and low-double-digit percent growth in 2022 and beyond.

Among the strategic initiatives disclosed by the company is the expansion of its HealthHUB stores, building on the success of the pilot in Houston. CVS plans to launch HealthHUB stores in Atlanta, Philadelphia, southern New Jersey and Tampa this year and expects to open 1,500 HealthHUB stores by the end of 2021.