CVS Exceeds Expectations but Lowers Outlook Due to Costs from Recent Acquisitions

CVS Health reported first quarter earnings and revenue that exceeded analysts' expectations.
CVS Health completed its acquisitions of Oak Street Health and Signify Health in the first quarter, lowering its full-year profit guidance to account for costs related to the deals.
CVS Health's health services, health insurance and retail segments all reported double-digit revenue growth in the first quarter.
CVS Health's operating income declined almost 3% in the first quarter due to continued losses in its Omnicare long-term care business.
CVS Health now expects full-year adjusted earnings of $8.20 to $8.40 per share, down from its previous forecast of $8.40 to $8.60 per share.