Walgreens Boots Alliance Inc. raised its adjusted profit growth forecast for the full year and exceeded first quarter profit estimates on Thursday as the major US drugstore chain banking on continued demand for vaccinations and of COVID-19 tests.
Governments and health authorities around the world are pushing for increased vaccinations and testing as the rapidly spreading variant of the coronavirus Omicron threatens to disrupt industries and overload healthcare systems.
The company administered 15.6 million vaccines and 6.5 million tests during the first quarter.
Walgreens net income attributable to Walgreens rose $ 3.58 billion, or $ 4.13 per share, in the quarter ended Nov. 30, from a loss of $ 308 million, or 36 cents per share, a year earlier, in large part due to a one-time charge of $ 1.5 billion.
The company revised its adjusted earnings forecast for the full year upwards from zero to single-digit growth.