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Walgreens earnings slide as number of vaccinations wane

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A big opioid settlement and a COVID-19 vaccine slowdown dragged on third-quarter earnings for Walgreens, but the drugstore chain still topped expectations.

Three year-old Fletcher Pack watches as his mother, McKenzie Pack, fills out paperwork prior to receiving the Moderna COVID-19 vaccination at Walgreens pharmacy Monday, June 20, 2022, in Lexington, S.C.

“Now that vaccination and testing rates are falling, Walgreens’ performance is deteriorating.” Saunders wrote. Analysts expected, on average, earnings of 84 cents per share on $32.06 billion in revenue, according to FactSet.

 

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