Covid Vaccines And Testing Boost Walgreens Profits
An indication shows the kinds of COVID-19 vaccination doses accessible at a Walgreens cellular bus clinic … [+]
Getty Photos
Walgreens Boots Alliance reported greater than $3.5 billion in quarterly earnings thanks partly to a rush of shoppers being vaccinated in opposition to Covid-19 or examined for the virus because the Omicron variant surges all over the world.
Walgreens on Thursday mentioned it administered 15.6 million vaccinations and 6.5 million exams within the first quarter ended Nov. 30, 2021. In all, Walgreens has administered greater than 56 million vaccines together with “over 9 million boosters.”
The pandemic has been a curler coaster for drugstore chains like Walgreens and rival CVS Well being as they battled authorities shutdowns early on and clients who didn’t wish to go away their houses.
Recently, nevertheless, they’re on a roll with CVS inventory flirting with a 52-week excessive this week and Walgreens Thursday reporting web revenue of $3.58 billion, or $4.13 in comparison with a lack of $308 million, or 36 cents a share within the year-ago quarter. Walgreens gross sales rose practically 8% to $33.9 billion within the firm’s first quarter.
Walgreens chief govt officer Roz Brewer informed analysts on a name Thursday morning to debate earnings that “testing and vaccinations are tailwinds” however the firm’s companies are additionally seeing restoration abroad. Such enhancing operations figured within the firm’s resolution to extend full 12 months fiscal 2022 earnings-per-share steering to “low-single digit development, from flat beforehand, to mirror first quarter efficiency and continued constructive momentum.”
