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CVS Caremark Reports Record Third Quarter Results
Date:11/5/2013

WOONSOCKET, R.I., Nov. 5, 2013 /PRNewswire/ -- CVS Caremark Corporation (NYSE: CVS) today announced operating results for the three months ended September 30, 2013.

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

Third Quarter Year-over-year Highlights:

  • Operating profit increased 19.2% to approximately $2.2 billion
  • Adjusted EPS increased 28.1% to $1.09, while GAAP diluted EPS from continuing operations increased 29.5% to $1.03; both include a $0.04 gain from a legal settlement
  • Adjusted EPS of $1.05, excluding the gain from a legal settlement, an increase of 23.9%
  • Retail pharmacy same store prescription volumes increased 1.4%, or 4.5% on a 30-day equivalent basis
  • Retail pharmacy same store sales increased 5.7%; total same store sales increased 3.6%
  • Year-to-date Highlights:

  • Generated free cash flow of $3.1 billion
  • Cash flow from operations of $4.2 billion
  • 2013 Guidance Raised and Narrowed:

  • Full-year Adjusted EPS range to $3.98 to $4.01 and GAAP diluted EPS from continuing operations range to $3.73 to $3.76; both including the gain from a legal settlement
  • Full-year Adjusted EPS range to $3.94 to $3.97, excluding the gain from a legal settlement
  • Full year free cash flow at $4.8 to $5.1 billion; cash flow from operations at $6.4 to $6.6 billion
  • RevenuesNet revenues for the three months ended September 30, 2013, increased 5.8%, or $1.7 billion, to $32.0 billion compared to the three months ended September 30, 2012.

    Revenues in the Pharmacy Services Segment increased 7.8%, or $1.4 billion, to $19.5 billion in the three months ended September 30, 2013. The increase was primarily driven by broad-based growth of claims as well as drug cost inflat
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    SOURCE CVS Caremark Corporation
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