Walgreens Boots Alliance Inc WBA was initially trading higher, but is now trading lower after the company announced better-than-expected first-quarter fiscal 2022 financial results and increased full-year guidance.
Walgreens reported quarterly earnings of $1.68 per share, which beat the estimate of $1.33 per share. The company reported quarterly revenue of $33.9 billion, which beat the estimate of $32.74 billion.
Walgreens also increased its full-year adjusted earnings guidance. The company now expects "low-single digit growth, from flat previously."
"The strong start to the fiscal year reinforces our confidence in the future, and as a result, we are raising our guidance for the full year and increasing investments in our people. Looking ahead, we are well positioned for sustainable, long-term value creation," said Rosalind Brewer, CEO of Walgreens.
Related Link: Walgreens Boots Alliance: Q1 Earnings Insights
WBA Price Action: Walgreens has traded as low as $40.77 and as high as $57.05 over a 52-week period.
The stock was down 1.22% at $53.34 at time of publication.
Photo: Mike Mozart from Flickr.
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