Walgreens Sees Fiscal-Year Adjusted EPS $4.65-$4.75 After Virus Effects

By Micah Maidenberg

Walgreens Boots Alliance Inc. said it expects to generate adjusted earnings of $4.65 to $4.75 a share for its current fiscal year, a forecast the company said reflects the tough conditions the coronavirus pandemic is having on its business.

The effects of the pandemic are expected to slice $1.03 to $1.14 a share out of adjusted earnings for the year, the company said Thursday.

"This guidance assumes continued adverse impacts from Covid-19 in the fourth quarter. In the U.K., retail conditions are expected to remain very depressed, despite gradual easing of restrictions. More robust sales growth is expected in the Retail Pharmacy USA division," the company said.

Walgreens also said that it was suspending activity under its share repurchase program.

Write to Micah Maidenberg at micah.maidenberg@wsj.com

(END) Dow Jones Newswires

July 09, 2020 08:05 ET (12:05 GMT)

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