CVS Health Corp (NYSE:CVS) will report its third quarter 2023 financial results on November 1, with analysts calling for earnings per share (EPS) of $2.13, reflecting a year-over-year increase of just 2% according to Zacks Investment Research.
The healthcare company has a recent history of exceeding EPS expectations and Zacks believes CVS can do the same in 3Q.
The analyst consensus revenue forecast for the quarter, meanwhile, is for sales to rise 9% to $88.2 billion.
During its 2Q announcement in August, CVS Health surpassed expectations on both its top and bottom lines and said it is implementing a cost-cutting program that includes the elimination of 5000 jobs.
Its Health Care Benefits segment saw the greatest growth, climbing 18% to $26.75 billion.
The company, however, also warned that its profit over the next two years will be impacted negatively as medical expenses rise in its insurance unit.
Shares of CVS Health edged $0.06 lower to close at $68.99 on Monday and have fallen 26% year to date.
Contact Sean at sean@proactiveinvestors.com