Excluding items, Walgreens reported earnings of 51 cents per share in the first quarter, compared with analysts’ average estimate of 37 cents
beat analysts’ lowered expectations for first-quarter adjusted profit on Friday and indicated that its restructuring was taking hold, sending the U.S. pharmacy chain operator’s shares up nearly 25 per cent.
Closely watched metrics such as same-store sales at its retained outlets were outperforming those slated to close at the end of the year, the company said. Walgreens, which operates the second-largest pharmacy chain in the U.S., is also working to simplify drug pricing at its stores, executives said, when asked about bigger rival CVS Health’s announcement this week.
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