Walgreens shares fall even after quarterly results top expectations
Publishing timestamp: 2023-01-05 12:04:55
Summary
Walgreens Boots Alliance reported better-than-expected fiscal first-quarter earnings and boosted its full-year revenue outlook due to its U.S. health-care segment's acquisition of Summit Health. Despite strong sales, the company swung to a loss due to a $5.2 billion settlement for opioid-related litigation. Sales were boosted by early flu season and strong demand for over-the-counter cough and cold medicine. Walgreens is in the process of acquiring CareCentrix and Shields Health Solutions, and recently closed a deal to acquire urgent-care provider Summit Health-CityMD. The company raised its full-year sales guidance and expects earnings to grow around 30% by the second half of the year.
Sentiment: POSITIVE
Tickers: WBA,
Keywords: walgreens boots alliance inc, business, earnings, business news, retail industry, breaking news: business, breaking news: earnings,
Source: https://www.cnbc.com/2023/01/05/walgreens-boots-alliance-wba-q1-earnings-2023.html