CVS Health Corp (NYSE:CVS) shares rose after the pharmacy chain raised its full-year profit guidance and delivered strong financial results for the first quarter.
The company now expects 2025 adjusted earnings per share (EPS) in the range of $6 to $6.20, up from its earlier guidance of $5.75 to $6.
For Q1, EPS was $2.25, ahead of Wall Street estimates of $1.70.
Revenue grew 7% year-over-year at $94.6 billion, above Street estimates of $93.6 billion.
“Thanks to a resolute focus on customers, our colleagues across CVS Health delivered positive results across our Health Care Benefits, Health Services and Pharmacy & Consumer Wellness segments, as we continue to build a world of better health around the 185 million consumers we are privileged to serve,” CVS CEO David Joyner said in a statement.
In terms of operational updates, CVS announced it will exit its individual exchange business by 2026.
It also unveiled a new deal to make Novo Nordisk’s Wegovy a preferred GLP-1 medication for obesity treatment starting July 1, aiming to enhance access and reduce costs for members.
Shares of CVS Health added 7% at about $71 on Thursday morning.