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Walgreens Beats Q2 Estimates – Raises 2021 Profit Forecast

By John F. Heerdink, Jr.

As per reports, Walgreen Boots Alliance (WBA) reported its second-quarter earnings this week beating estimates and reporting an 8.4% rise in quarterly profit due to higher sales at its pharmacy stores in the U.S. and the UK.

The retailer reported a 4.5% increase in its same-store sales at its U.S. pharmacies for the quarter ended Feb. 29, as it brimmed with 288.5 million prescriptions, while the sales at Boots UK pharmacies rose 3.2%.

Excluding items, Walgreens reported $1.40 per share, beating estimates of $1.11 per share. Revenue increased 4.8% to $32.8 billion, but missed analysts’ average estimate of $35.53 billion. Net income rose to $1.0 billion in the second quarter from $946 million, a year earlier.

The drugstore giant raised its 2021 forecast to mid-to-high single-digit growth in constant currency adjusted earnings per share from its earlier forecast of low single-digit adjusted EPS growth. Walgreens informed that it has so far administered 8 million Covid-19 vaccines, and expects to benefit from the distribution of Covid-19 vaccines and tests.

Walgreen Boots Alliance (WBA) is a pharmacy-led, health and well-being enterprise with a long history of trusted healthcare services, community pharmacy care, and pharmaceutical wholesaling dates. To learn more about Walgreen Boots Alliance (WBA) and to continue to track its progress please visit the Vista Partners Walgreens Boots Alliance Page.

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Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.

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(Read Original Story: Walgreens says 8 million Covid-19 vaccines administered, ups its 2021 profit forecast in CNBC)


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