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CVS Caremark Reports Record Second Quarter Results
Date:8/5/2014

WOONSOCKET, R.I., Aug. 5, 2014 /PRNewswire/ -- 

Second Quarter Year-over-year Highlights:

  • Net revenues increased 10.7% to approximately $34.6 billion
  • Operating profit increased 11.9% to approximately $2.2 billion
  • Adjusted EPS increased 16.5% to $1.13, while GAAP diluted EPS from continuing operations increased 16.7% to $1.06
  • Year-to-date Highlights:

  • Generated free cash flow of $2.2 billion
  • Cash flow from operations of $3.1 billion
  • 2014 Guidance:

  • Full-year Adjusted EPS range raised and narrowed to $4.43 to $4.51, up from $4.36 to $4.50
  • GAAP diluted EPS from continuing operations range raised and narrowed to $4.16 to $4.24, up from $4.09 to $4.23
  • Provided third quarter Adjusted EPS guidance of $1.11 to $1.14 and GAAP diluted EPS from continuing operations guidance of $1.04 to $1.07
  • Full year free cash flow range confirmed at $5.5 to $5.8 billion; cash flow from operations raised to $7.2 to $7.5 billion, up from $7.0 to $7.3 billion
  • CVS Caremark Corporation (NYSE: CVS) today announced operating results for the three months ended June 30, 2014.

    RevenuesNet revenues for the three months ended June 30, 2014, increased 10.7%, or approximately $3.4 billion, to $34.6 billion compared to the three months ended June 30, 2013.

    Revenues in the Pharmacy Services Segment increased 16.2%, or $3.0 billion, to $21.8 billion in the three months ended June 30, 2014. The increase was driven by net new business, growth in specialty pharmacy including the acquisition of Coram and the impact of Specialty Connect®, drug inflation and product mix, partially offset by an increase in generic dispensing. Pharmacy network claims processed during the three months ended June 30, 2014 increased 2.2% to 210.4 million compared to 205.9 millio
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    SOURCE CVS Caremark Corporation
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