Walgreens Boots Lifts FY17 Forecast As Q3 Results Top View; Plans $5 Bln Buyback

(RTTNews) - Walgreens Boots Alliance, Inc. (WBA) announced Thursday that it has raised the lower end of its guidance for fiscal year 2017 by 8 cents per share and now anticipates adjusted net earnings per share of $4.98 to $5.08.

On average, 20 analysts polled by Thomson Reuters expect earnings of $5 per share for the year. Analysts' estimates typically exclude special items.

In its third quarter, net earnings attributable to Walgreens increased 5.3 percent to $1.16 billion from $1.10 billion last year. Net net earnings per share increased 5.9 percent to $1.07 from prior year's $1.01.

Adjusted net earnings attributable to Walgreens Boots Alliance were $1.4 billion, or $1.33 per share, compared to $1.29 billion or $1.18 per share a year ago.

Sales in the third quarter were $30.12 billion, an increase of 2.1 percent from $29.50 billion last year. Sales increased 5.0 percent on a constant currency basis.

Analysts expected earnings of $1.3 per share on sales of $29.75 billion.

Further, the company announced that on Wednesday it authorized a share repurchase program for up to $5 billion of the company's shares prior to the program's expiration on August 31.

In pre-market activity, Walgreens shares were gaining 4.36 percent to $80.45.