Walgreens Boots Alliance reported fourth-quarter earnings today, beating analysts’ estimates, thanks to increased sales of COVID tests and demands for vaccines.
By Yaёl Bizouati-Kennedy
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The company provided 13.5 million vaccinations in the quarter and 34.6 million in fiscal 2021, according to a press release. This represents nearly double the company had expected to administer in the quarter, according to CNBC.
“Mandates are playing a role,” CEO Roz Brewer told CNBC. “There are many companies and organizations, cities and municipalities that are mandating and I think it’s forcing people to say ‘I need to go to work. So I have to get this vaccine.’ So it is creating an increase. And we’re seeing that in our stores.”
Walgreens reported adjusted earnings for its fiscal fourth quarter of $1.17, compared to a consensus estimate of $1.02 per share and revenue of $34.4 billion, above the consensus estimate of $33.3 billion, Barron’s reports.
“However, vaccines are expected to significantly slow in the upcoming quarter, which, combined with accelerated investments in digital and healthcare, makes the next few quarters quite challenging.”
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Walgreens shares were up 2.20% in pre-market trading and 3.7% this morning.
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