In what was undoubtedly the most closely watched earnings report of the session, Dow component Walgreens saw its shares drop more than 6% in pre-market trading after the company slashed its earnings guidance, becoming the latest corporate to undercut the economic growth narrative by slashing its earnings guidance.
After reporting results for its fiscal second quarter, the company said it’s now expecting roughly flat EPS growth, down from a prior forecast of 7%-12%.
Here are the highlights from the report:
-Net Sales: $34.5B (est $34.52B)
-Adj EPS: $1.64 (est $1.72)
-2Q adjusted gross margin 22.6%, estimate 23.5%
-2Q adjusted operating margin 5.3%
Cuts Forecast
via ZeroHedge News https://ift.tt/2Ibnq3n Tyler Durden