Walgreens Turns $344 Million Profit As CEO Asks Patience On Turnaround

executive Tim Wentworth asked for patience as the drugstore giant executes its plan for a financial turnaround. In this photo, a sign sits in front of a Walgreens store on November 10, 2023 in Wheeling, Illinois. Walgreens Boots Alliance Thursday reported net income of $344 million in its third quarter as chief executive Tim Wentworth asked for patience as the drugstore giant executes its plan for a financial turnaround.

Walgreens now says fiscal 2024 adjusted earnings-per-share is $2.80 to $2.95, “reflecting challenging pharmacy industry trends and worse-than-expected consumer environment.” Earlier this year, Walgreens narrowed fiscal 2024 adjusted earnings per share guidance to $3.20 to $3.35. Walgreens third quarter sales rose 2.6 percent to $36.4 billion compared to the year-ago quarter as the company’s healthcare services business, which includes VillageMD, is beginning to see better times.

“Informed by our strategic review, we are focused on improving our core business: retail pharmacy, which is central to the future of healthcare,” Wentworth said. “We are addressing critical issues with urgency and working to unlock opportunities for growth. Many of these actions will take time, but I am confident that we have the right team and the right strategy to lead a business turnaround for the Walgreens that our customers and patients need.

Source: News Formal (newsformal.com)

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