Walgreens Expects Tax Law to Boost Earnings Up to 35 Cents Per Share
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.
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.
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(END) Dow Jones Newswires
January 08, 2018 08:58 ET (13:58 GMT)