07:01 AM EDT, 05/01/2024 (MT Newswires) -- CVS Health ( CVS ) reported Q1 adjusted earnings Wednesday of $1.31 per diluted share, down from $2.20 a year earlier.

Analysts polled by Capital IQ expected $1.70.

Revenue for the quarter ended March 31 was $88.44 billion, compared with $85.28 billion a year ago.

Analysts surveyed by Capital IQ expected $89.2 billion.

The company reduced its full-year 2024 adjusted earnings guidance to at least $7 per diluted share from at least $8.30. Analysts polled by Capital IQ expect $8.27.

CVS shares fell 11% in premarket trading.

Price: 59.85, Change: -7.86, Percent Change: -11.61