Walgreens reported fiscal fourth-quarter sales and profit that beat Wall Street's expectations, reflecting the company's efforts to slash costs.
, among other issues. The company on Tuesday said it surpassed its target of slashing $1 billion in costs during fiscal 2024, which included shuttering underperforming stores, laying off employees and using artificial intelligence to make its supply chain more efficient, among other efforts. The No. 1 way to earn more respect at work: ‘I've been teaching it for decades,' says leadership expertThe company reported a net loss of $3 billion, or $3.48 per share, for the fiscal fourth quarter. That reflects a so-called valuation allowance meant to reduce the company's deferred tax assets mainly related to opioid settlements.Excluding certain items, adjusted earnings were 39 cents per share for the quarter.
Walgreens anticipates adjusted earnings per share of $1.40 to $1.80 in the coming fiscal year. Analysts expect an adjusted profit of $1.75 per share, according to LSEG. Specialty pharmacies are designed to deliver medications with unique handling, storage and distribution requirements, often for patients with complex conditions such as cancer and rheumatoid arthritis.
That segment operates the company's drugstores, which sell prescription and nonprescription drugs as well as health and wellness, beauty, personal care, and food products.