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Walgreens Beats Estimates on Strong Pharmacy Sales

PUBLISHED ON 2021-10-14 08:58:00 EST Kathi

Walgreens Boots Alliance Inc's fourth-quarter results beat estimates on higher U.S. and UK pharmacy store sales due to the easing of pandemic-related restrictions and people getting COVID-19 vaccines at its stores.

The company has administered more than 40 million COVID-19 vaccines and over 16 million tests to date, it said.

Same-store sales at its U.S. pharmacies rose 8.8% in the fourth quarter, which included a 485-basis point boost from COVID-19 vaccinations, the company said. Walgreens filled 313 million prescriptions during the quarter.

Shares in the Deerfield, Illinois-based company, one of the largest U.S. pharmacies, rose 1.6% to $48 premarket.

Net income attributable to the company was $627 million, or 72 cents per share, for the quarter ended Aug. 31, compared with a profit of $373 million, or 43 cents per share, a year earlier.

Excluding items, the company earned $1.17 per share, compared with Refinitiv IBES estimates of $1.02 per share.

Revenue rose to $34.26 billion from $30.37 billion, while analysts on average had estimated $33.30 billion.

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