First quarter report for CVS Health Corporation is out. Data released by the company is showing 11.8 percent growth in earnings per share. The earnings per share for the CVS Health Corporation are now $1.14. The company also crossed the estimate projected by Zacks Consensus by around 5.6 percent. The expense of acquisition activities have been adjusted through these first quarter earnings. Without counting the adjustments, the growth rate would have been 12.6 percent. The year over year revenue was $36.33 billion, sharp 11.1 percent growth from the last year.
The Zacks Consensus estimated predicted revenue of $35.92 billion for the company. Retail pharmacy segments and Pharmacy Services have performed well this quarter, which has resulted in this large performance improvement. The Pharmacy Services registered the growth rate of 18.2 percent in terms of revenue. The segment earned around $23.9 billion revenue during this quarter for the company. Increased market share in pharmacy network claims along with growth in specialty pharmacy business have driven this growth in pharmacy services for the company. Around 230.8 million pharmacy network claims were processed last quarter, increase of 11 percent.
The picture is not that good on the retail side of the CVS. The revenues increased by 2.9 percent ($17 billion). While the same-store sales grew by 1.2 percent, front-end same store sales were down by 6.1 percent. Softer customer traffic has resulted in this decline. Same store prescription volumes increased by 5.1 percent as per 30 day equivalent basis for the CVS. In terms of expansion, the CVS have delivered mixed results by launching 38 new drugstores but shut down 10 stores. 12 stores have been relocated by the company.