Walgreens Boots Alliance Tops Earnings Estimates, Lifts Low End Of 2017 Guidance

By Ciara Linnane Markets MarketWatch Pulse

Walgreen Boots Alliance Inc. said Thursday it had net income of $1.162 billion, or $1.07 a share, in the second quarter, up from $1.103 billion, or $1.01 a share, in the year-earlier period. Adjusted per-share earnings came to $1.33, ahead of the FactSet consensus of $1.30. Sales rose to $30.1 billion from $29.5 billion, also ahead of the FactSet consensus of $29.7 billion. "Our results this quarter continued to meet our expectations as strategic partnerships brought more patients to our U.S. pharmacies," Chief Executive Stefano Pessina said in a statement. Separately, the company also unveiled a new agreement with Rite Aid Inc. , replacing a 2015 merger agreement. The company raised the lower end of its 2017 EPS guidance to $4.98 to $5.08 from a prior $4.90 to $5.08. Shares rose 1.8% premarket, but are down 7% in 2017, while the S&P 500 has gained 9%.

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