Tags: Earns | Walgreen

Walgreen's Profit Slides Nearly 8 Percent

Tuesday, 27 March 2012 08:36 AM EDT

Drugstore operator Walgreen Co. says its fiscal second-quarter earnings fell almost 8 percent due in part to its decision to leave the Express Scripts pharmacy network and a slow flu season.

The nation's largest drugstore chain says its net income fell to $683 million, or 78 cents per share, in the three months that ended Feb. 29. That is down from $739 million, or 80 cents per share, a year ago.

Revenue climbed less than 1 percent to $18.65 billion.

Analysts forecast earnings of 77 cents per share on $18.57 billion in revenue.

Its shares climbed $1.25, or 3.6 percent, to $35.62 in premarket trading Tuesday.

Express Scripts is a pharmacy benefits manager that paid Walgreen to fill prescriptions. The companies let a contract between them expire at the end of last year.

© Copyright 2026 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


133
2012-36-27
Tuesday, 27 March 2012 08:36 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved