CVS Beats Estimates, but Cuts Full-Year Profit Outlook on Higher Medical Costs

Key TakeawaysCVS reported fourth-quarter earnings of $2.12 per share, 4% higher than a year ago, and ahead of Wall Street estimates.The company lowered its guidance for 2024 due to a rise in insurance payouts.Americans are using the post-Covid quiet in hospitals to undergo elective procedures, which is a trend that CVS expects to continue.CVS Healthcare (CVS) shares gained ground on Wednesday after the company reported better-than-expected earnings but lowered its 2024 guidance due to an increase in insuran ...