Walgreens Boots Alliance (WBA) announced fiscal second-quarter earnings that topped analysts’ expectations, after the omicron variant of Covid-19 raised demand for booster shots.
The drugstore chain reiterated its outlook for the year. It has said that adjusted earnings per share will grow in the low single digits in 2022.
In the quarter, net income fell to $883 million U.S., or $1.02 U.S. per share, from $1.03 billion U.S. or $1.19 U.S. a share in the year earlier period.
Excluding items, the company earned $1.59 U.S. per share, exceeding the $1.40 U.S. that was expected by analysts surveyed by Refinitiv.
Revenue fell to $33.76 billion U.S. from $32.78 billion U.S. a year earlier but surpassed the $33.4 billion U.S. that analysts had expected.
As of yesterday’s market close (March 30), Walgreens shares are down 9% so far this year at $47.46 U.S., bringing the company’s market value to $40.97 billion U.S.
