Walgreens Boots Alliances Reports Mixed Q4 Results

Walgreens Boots Alliance Inc WBA reported mixed results for the fourth quarter. While adjusted earnings topped estimates, revenue fell shy of the expectations. The company introduced outlook for the fiscal year 2017.

The company reported net earnings of $1.03 billion, or $0.95 a share, on revenue of $28.6 billion for the third quarter. On an adjusted basis, its EPS would have been $1.07. Street analysts expected EPS of $0.99 on revenue of $29.06 billion.

In the year-ago quarter, Walgreens Boots delivered adjusted net earnings of $969 million, or $0.88 a share, on revenue of $28.52 billion.

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Executive Vice Chairman and CEO, Stefano Pessina, commented, "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."

Moving ahead, the company expects adjusted EPS between $4.85 and $5.20 for the fiscal year 2017. Street analysts are looking for an EPS of $5.03.

Following this, the stock shed $0.18, or 0.23 percent, to $77.00 in the pre-market trading.