Walgreens Boots Alliance Inc. first-quarter adjusted EPS and net income fell short of estimates Jan. 8 as the pharmacy confirmed its 2020 guidance.

Adjusted diluted net EPS for the three months ended Nov. 30, 2019, of $1.37 missed the S&P Global Market Intelligence mean consensus estimate for normalized EPS of $1.41. Adjusted net earnings attributable to Walgreens Boots Alliance of $1.22 billion were lower than the Market Intelligence estimate of $1.25 billion for net income excluding exceptions.

Walgreens confirmed its previous 2020 guidance, saying that adjusted EPS growth would be "roughly flat" but could be higher or lower by 3%.

Sales for the quarter increased 2.3% on a constant-currency basis to $34.34 billion. Adjusted operating income declined 15.6%, or 15.4% in constant-currency terms, to $1.46 billion.

Shares of Walgreens Boots Alliance declined 4.1% to $56.87 in premarket trading Jan. 8. The retail pharmacy chain reported results before U.S. markets opened.