Earnings Preview: CVS Caremark to address 4Q
WOONSOCKET, R.I. – Angishore abettor and pharmacy allowances administrator CVS Caremark Corp. letters its fourth-quarter after-effects afore the banal bazaar opens Monday.
WHAT TO WATCH FOR: Positive account from the Caremark pharmacy allowances administration business, which has absent billions of dollars in affairs in contempo months. Better sales at the company's 7,000 drugstores, which could announce the bread-and-butter slump is easing.
Three months ago, CVS said the Caremark business had absent about $4.8 billion in business for 2010. The company's banal alone 20 percent in a distinct day, although it has back recovered some of those losses.
The Caremark assemblage was already disturbing adjoin rivals like Medco Health Solutions and Express Scripts, but the aggregation now expects Caremark's accumulation to abatement 10 to 12 percent this year. Back then, Per Lofberg has taken over as admiral of the PBM, replacing Howard McLure.
WHY IT MATTERS: CVS handles added prescriptions than any added aggregation in the U.S. It's the additional better angishore alternation in the country in agreement of food and the third better pharmacy allowances administrator in agreement of revenue.
WHAT'S EXPECTED: Analysts polled by Thomson Reuters apprehend a accumulation of 78 cents per allotment and $26.22 billion in revenue.
LAST YEAR'S QUARTER: In the aftermost division of 2008, CVS becoming $949.3 million, or 65 cents per share, on acquirement of $24.14 billion.
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