CVS Health Corporation (NYSE:CVS) reported its Q4 results, with adjusted EPS coming in at $1.98, beating the consensus estimate of $1.82 and around $0.40 ahead of original expectations, driven by $0.30 of COVID benefits (testing/vaccines/test-kits).

As the nature of these benefits is temporary, the company did not pass the beat to 2022 EPS guidance of $8.10-8.30, which was maintained. Like in 2021, the company expects slightly more than half of earnings to be in H1/22 and also does not assume a fourth vaccine wave.

Analysts at Oppenheimer provided their views on the company following the results. The analysts adjusted their 2022/2023/2024 EPS estimates to $8.27/$8.92/$9.80 from $8.24/ $8.85/$9.77, noting that, overall, the company continues to benefit from COVID, specifically in its Retail/LTC business, which could start to reverse in 2022.