Walgreens announced a 2024 earnings outlook below Wall Street expectations on Thursday, two days after announcing a new CEO who the beleaguered retailer says will help with its strategic pivot to healthcare services.
On a call with investors this morning, Walgreens leadership said the Deerfield, IL-based retailer is focused on accelerating the profitability of its U.S. Healthcare division, which includes value-based medical group VillageMD. As part of that, Walgreens plans to close 60 underperforming VillageMD clinics in 2024.
Along with the release of its fourth quarter earnings, Walgreens said it expects adjusted earnings per share for its 2024 fiscal year to be between $3.20 to $3.50, below the analyst consensus of $3.71, due to lower profit from COVID-19 testing and vaccines among other factors, Healthcare Dive reports. Read more.
