Walgreens fiscal 3rd-quarter performance mixed
DEERFIELD, Ill. (AP) - Walgreens' fiscal third-quarter results were mixed as a stronger dollar pressured its international division.
The largest U.S. drugstore chain earned $1.1 billion, or $1.01 per share, for the period ended May 31. A year earlier the Deerfield, Illinois-based company earned $1.3 billion, or $1.18 per share.
Earnings, adjusted for one-time gains and costs, were $1.18 per share. This topped the $1.14 per share that analysts surveyed by Zacks Investment Research predicted.
Revenue rose to $29.5 billion from $28.8 billion, but fell short of the $29.93 billion that analysts polled by Zacks were looking for.
Total sales at retail pharmacy locations in the U.S. climbed 3.7 percent. For the international unit, total sales fell 2.3 percent but increased 3.4 percent on a constant currency basis.
Walgreens Boots Alliance Inc. said Wednesday that it now expects full-year adjusted earnings in a range of $4.45 to $4.55 per share. Its prior outlook was for $4.35 to $4.55 per share. Analysts surveyed by FactSet are calling for earnings of $4.49 per share.
Walgreens said that its proposed acquisition of Rite Aid Corp. is progressing as planned. It still expects the deal to close in the second half of the year.
Walgreens' shares slipped 52 cents to $83 in premarket trading about an hour before the market open.
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Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WBA at http://www.zacks.com/ap/WBA
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Keywords: Walgreens Boots Alliance, Earnings Report