Walgreens swings to a profit

Walgreens Boots Alliance Inc.
shares rose 2.8% in Thursday premarket trading after the pharmacy retailer swung to a fiscal third-quarter profit. Net income totaled $1.197 billion, or $1.38 per share, after a loss of $1.708 billion, or $1.95 per share, last year. Adjusted EPS of $1.51 beat the FactSet consensus for $1.16. Sales of $34.03 billion were up from $30.36 billion and also ahead of the FactSet consensus for $33.49 billion. Walgreens raised its fiscal 2021 adjusted EPS guidance to mid-to-high single digit growth to 10% growth, on a constant currency basis. The company also completed the sale of the Alliance Healthcare pharmacy business to AmerisourceBergen Corp.
Walgreens has administered more than 25 million COVID vaccinations to date. Walgreens stock has gained 32% for the year to date while the S&P 500 index
is up 14.4% for the period.

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