CVS Health Corp (NYSE:CVS) shares gained ground Friday on quarterly figures.
The Woonsocket, Rhode Island-based company reported total revenues increased to $67.1 billion, up 3.5% compared to prior year. GAAP diluted earnings per share of $0.93 and GAAP operating income of $3.2 billion. Adjusted EPS of $1.66 and adjusted operating income of $3.6 billion.
Net income decreased 20.3% in the three months ended September 30, 2020 compared to the prior year primarily due to an increase in the loss on early extinguishment of debt to $766 million in the three months ended September 30, 2020, compared to $79 million in the three months ended September 30, 2019 .
CEO Larry J. Merlo stated, “Our strong third-quarter results demonstrate continued execution of our long-term strategic plan that is transforming the way health care is delivered. As an integrated health services provider, we’re developing holistic and innovative solutions that meet the needs of our customers in the community, in the home or in the palm of their hand.
“Our comprehensive pandemic response shows the power of a diverse and agile enterprise. We’ve opened more than 4,000 COVID-19 test sites across the country since March, and have administered over six million tests.
“We’re helping businesses and universities safely reopen and we were recently selected to administer COVID-19 vaccinations in long-term care facilities. We’ll continue to play a vital role in our nation’s recovery thanks to the tireless efforts of our nearly 300,000 employees.”
CVS jumped $1.98, or 3.2%, to $63.39.