The Deerfield, IL-based drug store chain reported fiscal Q4 adjusted EPS $1.07 per share easily beating Wall Street’s view for $0.99. Revenue edged 0.4% higher from last year to $28.64 billion, missing analyst estimates of $29.06 billion.
Looking ahead, WBA forecast full-year 2017 earnings to range from $4.85 to $5.20 per share, which straddles analysts’ view of $5.03 per share for the year.
WBA commented via press release:
Executive Vice Chairman and CEO Stefano Pessina said, “We have continued to make good progress in putting in place the building blocks for the future growth of the business. The exercise of the AmerisourceBergen warrants in August provides an example of the opportunities open to us to deploy capital, and the agreements we reached with Prime Therapeutics and with Express Scripts during the quarter demonstrate our commitment to a more collaborative and partnership-oriented approach. We believe this can help provide growth for our own company and that of our strategic partners while delivering better, more efficient and more effective service to patients and payers alike.”
Walgreens has been aggressive with acquisitions in recent years. The company completed its purchase of European drug store giant Alliance Boots last year, and is currently in the midst of acquiring fellow U.S. drug store chain Rite Aid.
Walgreens shares fell $0.18 (-0.23%) to $77.00 in premarket trading Thursday. Prior to today’s report WBA had fallen 9.37% year-to-date.