Walgreens Beats Estimates on Strong Pharmacy Sales
By Kathi on Oct 14, 2021 | 04:34 AM IST
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.