Walgreens reported its fiscal second-quarter earnings on Tuesday, revealing results that exceeded market expectations. The retail pharmacy leader has credited its improved performance to strategic cost-cutting initiatives while gearing up for its transition to private ownership.
The transaction to take Walgreens private is being facilitated by Sycamore Partners and is anticipated to finalize by the end of the fourth quarter this year.
For the three months concluding on February 28, Walgreens disclosed financial metrics that compared favorably against analyst projections compiled by LSEG:
- Adjusted earnings per share: 63 cents vs. 53 cents anticipated
- Revenue: $38.59 billion compared to the $38 billion forecast
This story is developing. Please check back for updates.
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