Walgreens Expects Tax Law to Boost Earnings Up to 35 Cents Per Share

By Imani MoiseFeaturesDow Jones Newswires

Walgreens Boots Alliance Inc. (WBA) expects a tax benefit of more than $200 million in 2018 due to the tax overhaul legislation.

The pharmacy operator said Monday in a securities filing that the changes to tax policy will boost profit by 30 to 35 cents per share on an adjusted basis.

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Though the new tax law is expected to benefit companies in the long term, many are expected to take hits in the current year due to a write-down of deferred tax assets. Walgreens has said it expects to be affected by a revaluing of its deferred tax assets but hasn't put a dollar amount on the impact.

Shares, little changed during premarket trading, have fallen 12% over the past 12 months.

Write to Imani Moise at imani.moise@wsj.com

(END) Dow Jones Newswires

January 08, 2018 08:58 ET (13:58 GMT)