Last month, Walgreens finalized a settlement with state and local governments to resolve opioid abuse lawsuits. Despite the legal charge, the company beat Wall Street forecasts.
Not counting that charge, Walgreens adjusted earnings totaled $1.16 per share in the quarter. Sales slipped less than 2% to $33.4 billion.Walgreens remains"firmly in the black" when not counting the legal charge, noted Neil Saunders, managing director of GlobalData.
The company is working with VillageMD to open primary care practices next to some locations with the idea that drugstores and doctor offices work together to help keep patients healthy. But drugstores are still its main business. Walgreens' developing U.S. health care business brought in first-quarter sales of $989 million after totaling $51 million a year ago.
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