Wall Street Breakfast Weekend: CVS Health Earnings with Daniel Jones

Wall Street Breakfast

Seeking Alpha

Business, Investing, Business News, News

3.8 • 950 Ratings

🗓️ 5 November 2022

⏱️ 11 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In this episode we’re joined by Daniel Jones, CEO of Avaring Capital Advisors. Daniel is a Seeking Alpha contributor and he runs Crude Value Insights, a value-oriented newsletter aimed at analyzing the cash flows and assessing the value of companies in the oil and gas space. Today he’s sharing his insight on CVS Health (CVS). Plus, Kim Khan brings this week’s Catalyst Watch, the new Twitter poll for the week, and a Walt Disney Company (DIS) earnings preview.

Transcript

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0:00.0	Welcome to Seeking Alpha's Wall Street breakfast, your daily source of market news and analysis.
0:06.8	Subscribe to this podcast on Apple Podcast, Spotify or Stitcher.
0:11.2	Welcome to the new edition of our weekend podcast.
0:14.0	I'm Julie Morgan.
0:15.1	Today we're covering next week's major catalyst, getting into Disney's earnings,
0:19.5	and doing a deep dive into the CVS health stock.
0:22.8	Let's get started with CVS Health.
0:25.1	Today I'm joined by Daniel Jones.
0:26.9	He's the CEO of Avarring Capital Advisors.
0:30.3	Daniel, thanks for joining me today.
0:32.4	Yes, thank you for having me.
0:34.0	It's a pleasure to be on.
0:35.0	Oh, good to have you here.
0:37.0	You know, we're going to jump right in.
0:38.0	CVS Health, you've had a chance to look at the data already.
0:41.0	I know you have.
0:42.0	Are earnings and revenue where you expect them to be?
0:46.2	Honestly, it was a little surprising. They did fantastic for the quarter. They actually beat
0:51.2	revenue expectations by 4.4 billion dollars and their non-gap earnings were 10 cents higher than what people were anticipating to $2.9 cents per share.
1:02.0	I know a lot of people are going to be looking at the gap earnings, which will include a massive impairment charge, $5.7 billion on a net basis because of the opioid settlement that they are in the process of concluding.
1:18.8	But you really got to look at the non-gap in this case because it is a one-time event and it's something they get to pay over 10 years.
1:24.7	Tell me this, when you consider other stocks in this industry group, how is CVS positioned in terms of market share?
	...

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