Benzinga | Jan 11, 2022 01:46PM EST

Amid Stronger Than Expected Retail Performance, CVS Health Boosts 2021 Guidance

CVS Health Corp (NYSE:CVS) boosted its 2021 guidance ahead of its fourth-quarter earnings in early February, with executives citing better-than-expected performance in its retail segment.

* In an SEC filing, the Company raised its full-year earnings projections to $8.33 - $8.38 per share from a previous estimate of $8.

* The Company also affirmed its 2022 guidance of $8.10 - $8.30 per share.

* Related: CVS Plans 900 Store Closures Over Three Years.

* During the annual J.P. Morgan Healthcare Conference, CVS's chief financial officer, Shawn Guertin, said the retail business's strong results in the fourth quarter account for about 80% of the overperformance CVS saw.

* See the Company presentation here.

* As COVID-19 pandemic response, the Company administered around 59 million vaccines and about 32 million tests.

* Price Action: CVS shares are up 0.85% at $105.95 during the market session on the last check Tuesday.