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Walgreens fiscal Q3 profit climbs 32.8% YOY

Walgreens Boots Alliance Inc. said its normalized net income for the fiscal third quarter ended May 31 came to 77 cents per share, compared with the S&P Capital IQ consensus estimate of 87 cents per share.

EPS rose 16.6% year over year from 66 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $848.3 million, an increase of 32.8% from $638.6 million in the year-earlier period.

The normalized profit margin declined to 3.1% from 3.3% in the year-earlier period.

Total revenue grew 48.4% year over year to $28.80 billion from $19.40 billion, and total operating expenses rose 48.2% on an annual basis to $27.29 billion from $18.42 billion.

Reported net income increased 81.7% from the prior-year period to $1.30 billion, or $1.18 per share, from $716.0 million, or 74 cents per share.