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Walgreens Exceeds Q2 Expectations as Privatization Deal Progresses

The pharmacy chain reports strong earnings and revenue growth while advancing toward a fourth-quarter privatization with Sycamore Partners.

The Walgreens logo is seen outside the store in Times Square in New York, U.S., July 5, 2016.  REUTERS/Shannon Stapleton
FILE - A Walgreens logo is seen from the exterior of a store in Wheeling, Ill., Oct. 15, 2024. (AP Photo/Nam Y. Huh, file)
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Overview

  • Walgreens reported adjusted Q2 earnings of 63 cents per share, surpassing analysts' expectations of 53 cents.
  • Revenue for the quarter reached $38.59 billion, exceeding the forecasted $38 billion.
  • The company is undergoing a strategic turnaround, including cost-cutting measures and the closure of underperforming stores.
  • Walgreens has withdrawn its fiscal 2025 forecast as it prepares for a transition to private ownership under Sycamore Partners.
  • The privatization deal with Sycamore Partners is expected to close in the fourth quarter of 2025, marking a significant corporate shift.