Walgreens reported a beat on earnings, however, the retail pharmacy chain is expecting a decline in profits following a reduction in vaccine demand.

Latest Clips

Walgreens Reports Beat on Earnings But Sees Future Decline in Profits

Walgreens the chain posting a beat on the top and bottom lines in this morning's earnings report, but the company said going forward, it expects adjusted earnings per share to just grow by single digits. That's because Walgreens saw a surge in demand in past quarters during the pandemic, but is now seeing less for pandemic-related services. For example, the company administered 4.7 million vaccines last quarter. In the first quarter, they had administered 15.6 million vaccines. Walgreens has been expanding online options like curbside pickup and said digital options gained popularity by 25% over the past year. Now, Walgreens earnings per share came in at $0.96 versus the expected 92 cents. Revenue was $32.6 billion $32.06 billion.