Walgreens tops estimates as drugstore chain cuts costs, prepares to go private

Walgreens on Tuesday reported fiscal second-quarter earnings and revenue that topped expectations, as the retail drugstore giant benefits from cost cuts and prepares to go private.

The company is in the process of being taken private by Sycamore Partners in a deal that is expected to close in the fourth quarter of this year.

Here’s what Walgreens reported for the three-month period ended Feb. 28 compared with what Wall Street was expecting, based on a survey of analysts by LSEG:

• Earnings per share: 63 cents adjusted vs. 53 cents expected
• Revenue: $38.59 billion vs. $38 billion expected

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