While reporting financial results for the third quarter on Thursday, retail pharmacy Walgreens Boots Alliance, Inc. (WBA) raised its adjusted earnings growth guidance for the full-year 2021, based on strong results in the third quarter and greater clarity on the impact of COVID-19 vaccinations.
For fiscal 2021, the company raised its adjusted earnings growth guidance to around 10 percent growth in constant currency from the prior forecast for a growth in the mid-to-high single digits.
On average, 15 analysts polled by Thomson Reuters expect the company to report earnings of $4.69 per share for the year. Analysts' estimates typically exclude special items.
Additionally, Walgreens said it has completed the divestiture of the Alliance Healthcare businesses to AmerisourceBergen for a total consideration of $6.5 billion, made up of $6.275 billion in cash and 2 million shares of AmerisourceBergen common stock.
Walgreens has used a portion of the proceeds to eliminate $3.3 billion in debt from its balance sheet and will deploy the remainder to accelerate growth of its core retail pharmacy and healthcare businesses.
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