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CVS Caremark Reports Record Second Quarter Results
Date:8/6/2013

WOONSOCKET, R.I., Aug. 6, 2013 /PRNewswire/ -- CVS Caremark Corporation (NYSE: CVS) today announced operating results for the three months ended June 30, 2013.

(Logo: http://photos.prnewswire.com/prnh/20090226/NE75914LOGO)

Second Quarter Year-over-year Highlights:

  • Operating profit increased 15.2% to approximately $2.0 billion
  • Adjusted EPS increased 19.6% to $0.97; GAAP diluted EPS from continuing operations increased 20.8% to $0.91
  • Retail pharmacy same store prescription volumes increased 1.8%, or 5.0% on a 30-day equivalent basis
  • Retail pharmacy same store sales increased 0.8%; total same store sales increased 0.4%
  • Year-to-date Highlights:

  • Generated free cash flow of $1.7 billion
  • Cash flow from operations of $2.5 billion
  • 2013 Guidance:

  • Narrowed 2013 full-year Adjusted EPS range to $3.90 to $3.96 and GAAP diluted EPS from continuing operations range to $3.65 to $3.71
  • Provided third quarter Adjusted EPS guidance of $1.00 to $1.03 and GAAP diluted EPS from continuing operations guidance of $0.94 to $0.97
  • Expect full year free cash flow of $4.8 to $5.1 billion and cash flow from operations of $6.4 to $6.6 billion
  • RevenuesNet revenues for the three months ended June 30, 2013, increased 1.7%, or $534 million, compared to the three months ended June 30, 2012.

    Revenues in the Pharmacy Services Segment increased 2.0%, or $377 million, in the three months ended June 30, 2013. The growth was primarily driven by volume increases across all channels and drug cost inflation in our specialty pharmacy business, partially offset by the impact of new generic introductions. Pharmacy network claims processed during the three months ended June 30, 2013, increased 4.1% to 205.9 mil
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    SOURCE CVS Caremark Corporation
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