Drug Store Bulls Plod Along with CVS in Tow
February 06, 2013
CVS Caremark (NYSE:CVS) enjoyed a boost on Wednesday morning following its fourth-quarter and full-year 2012 results. For the quarter, the pharmacy and health-care services provider reported a 10.9 percent increase in net revenues to a record $31.4 billion, same-store sales growth of 4.0 percent, and a 22.8 percent increase in adjusted earnings to $0.97 per diluted share, which includes a $0.17 per share loss attributed to early extinguishment of debt.
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The strong quarter was led by a 17.4 percent increase in Pharmacy Services revenues to $18.6 billion. CVS commented that “this increase was primarily associated with new 2012 client starts, drug cost inflation and the growth of our Medicare Part D program.”
| Quarter | Dec. 31, 2011 | Mar. 31, 2012 | Jun. 30, 2012 | Sep. 30, 2012 | Dec. 31, 2012 |
| Revenue ($) in millions | 28,320 | 30,800 | 30,710 | 30,230 | 31,400 |
| Diluted EPS ($) | 0.80 | 0.59 | 0.75 | 0.79 | 0.97 |
The company’s fourth-quarter results rounded out a strong year, and CVS offered healthy guidance for 2013…
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