Walgreens profit and sales beat Street expectations

Walgreens Boots Alliance Inc. shares edged up 0.3% in Thursday premarket trading after it reported fiscal second-quarter profit and sales that beat expectations. The pharmacy retailer reported net income of $883 million, or $1.02 per share, down from $1.026 billion, or $1.19 per share, last year. Adjusted EPS of $1.59 beat the FactSet consensus for $1.39. Sales of $33.8 billion were up from $32.8 billion and ahead of the FactSet consensus for $33.2 billion. U.S. retail comparable sales rose 14.7% and U.K. retail comparable sales were up 22%. The strategic review of the Boots business is "progressing," according to a statement from Chief Executive Rosalind Brewer. Walgreens administered 11.8 million COVID vaccines during the second quarter, and has administered 62.8 million to date. The company maintained its full-year outlook for low-single digit adjusted EPS growth. The FactSet consensus is for EPS of $5.02, implying an increase of 2.3%. Walgreens stock has slumped 13.6% over the last year while the S&P 500 index has gained nearly 16%.

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