CVS Health tops Wall Street 2Q forecasts, narrows guidance

CVS Health’s second-quarter performance beat Wall Street expectations, and the nation’s second-largest drugstore chain also narrowed its forecast for 2018.

The company said Wednesday it now expects to earn $6.98 to $7.08 per share this year after predicting $6.87 to $7.08 per share in May.

Analysts expect, on average, earnings of $6.97 per share in 2018, according to FactSet.

In the quarter, CVS Health posted adjusted results of $1.69 per share. Revenue rose 2 percent to about $46.7 billion.

Analysts predicted earnings of $1.61 per share on $46.32 billion in revenue.

Woonsocket, Rhode Island-based CVS Health Corp. runs more than 9,800 retail locations and processes over a billion prescriptions annually as a pharmacy benefit manager.

It is working to close a roughly $69 billion acquisition of the health insurer Aetna.