Drug Store Bulls Plod Along with CVS in Tow

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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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