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CVS outlines expected synergies from Aetna deal, reaffirms guidance

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CVS Health Corp. said Tuesday it expects integration of health insurer Aetna will drive synergies of $300 million to $350 million in 2019, followed by about $800 million in 2020. The company said it will outline a series of measures at an investor day later Tuesday aimed at accelerating growth, simplifying a confusing consumer healthy system and positioning the company for long-term growth. The company reaffirmed its guidance for 2019 of revenue in the range of $251.2 billion to $254.4 billion and EPS of $4.90 to $5.05 and adjusted EPS of $6.75 to $6.90. For 2020, the company expects to deliver adjusted EPS of more than $7.00, followed by mid-single digit percent adjusted EPS growth in 2021 and low-double digit percent adjusted EPS in 2022. Shares rose 0.7% in premarket trade, but are down 18.5% in 2019 to date, while the S&P 500 has gained 9.5%.

 

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