Walgreens gains as the firm sees 2021 profit growth

5:22 PM October 15, 2020

Walgreens Boots Alliance (WBA.US), a pharmacy chain operator, is rising during today’s session as the firm reported adjusted quarterly profit of $1.02 per share (vs expected $0.96), down 28.7% from the same period last year. Revenue came in above forecasts too as it rose 2.3% to $34.7 billion against analysts’ estimates of $34.37 billion. The firm sees 2021 profit growth despite the pandemic - adjusted profits should grow in the “low single-digit” percentage range.

"Despite uncertainty amid the global COVID-19 pandemic, we are seeing gradual improvement in key U.S. and UK markets and continued strong performance in our wholesale business. I'm also encouraged by the accelerating growth in our e-commerce platforms,” CEO Stefano Pessina said.

Walgreens Boots Alliance (WBA.US) stock was getting a lift after market open. However, the price bounced off the downward trendline and a pullback occurred. Nevertheless, shares are still roughly 2.5% up. Source: xStation5

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