Tests and vaccines push Walgreens past expectations in 2Q

The Wall Street provided better financial support to the Walgreens than expected in the second quarter due to increased COVID-19 testing and increased demand for the vaccine.

The COVID-19 test and increased demand for the vaccine helped Walgreens deliver better Wall Street in the expected second quarter.

Sales have increased as consumers spend money on Covid-19 tests at home, as well as cold, flu and beauty products. Vaccines have boosted pharmacy sales as the virus’s omicon wave peaked in the United States during the quarter.

Revenue from the company’s boot stores in the United Kingdom also rose as more customers returned to stores despite the anti-Omicron restrictions for most of the quarter.

Walgreens Boots Alliance Inc. collects most of its revenue from retail pharmacies in Deerfield, Illinois, USA, just outside of Chicago, where it operates about 9,000 stores. The company operates about 2,300 boot locations in the UK and some in Ireland and Thailand.

The agency said Thursday that the review is still ongoing.

The company has spent billions on partnering with VillageMD to open up first aid practices that work with its drugstores.

Overall, Deerfield, Illinois-based Walgreens Boots Alliance Inc. Reported consistent earnings of $ 1.59 per share for the quarter ended 28 February. Revenue rose nearly 3% to $ 33.76 billion.

According to Factset, analysts expect an average earnings of $ 33.23 billion per share of $ 1.39.

Walgreens also said Thursday that it maintains a full-year consistent EPS growth forecast for low-single numbers.

Analysts have forecast a consistent earnings per share of 5.02 for the full fiscal year, which ends in August. Which would represent an increase of about 2% over last year.

Shares of the company fell in pre-market transactions.


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