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CVS Caremark Reports Third Quarter Results
Date:11/3/2011

WOONSOCKET, R.I., Nov. 3, 2011 /PRNewswire/ -- CVS Caremark Corporation (NYSE: CVS), today announced revenues, operating profit, and net income for the three months ended September 30, 2011.

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

Third Quarter Year-Over-Year Highlights:

  • Net revenues increased 12.5% to a record $26.7 billion
  • Pharmacy Services segment revenues increased 25.8%
  • Retail Pharmacy segment revenues increased 3.8%, with same stores sales up 2.3%
  • Adjusted EPS from continuing operations of $0.70
  • GAAP diluted EPS from continuing operations of $0.65

  • Year-to-Date Highlights:

  • Generated free cash flow of $3.9 billion
  • Generated cash flow from operations of $5.0 billion

  • Guidance:

  • Company narrows full-year 2011 EPS guidance range to higher end of previous range
  • Full-year adjusted EPS from continuing operations revised to $2.77 - $2.81
  • Full-year GAAP diluted EPS from continuing operations revised to $2.57 - $2.61
  • Company reconfirms full-year free cash flow in the range of $4.0 billion - $4.2 billion
  • Company reconfirms full-year cash flow from operations in the range of $5.5 billion - $5.6 billion

  • RevenuesNet revenues for the three months ended September 30, 2011 increased $3.0 billion to $26.7 billion, up from $23.7 billion during the three months ended September 30, 2010.

    Revenues in the Pharmacy Services segment increased 25.8% to $14.8 billion in the three months ended September 30, 2011. This increase was primarily associated with the addition of a previously-announced, long-term contract with Aetna, Inc., as well as new activity resulting from our acquisition of the Medicare prescription drug busines
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    SOURCE CVS Caremark Corporation
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