Walgreens posts better-than-expected 3Q but earnings slide

By TOM MURPHY
AP Health Writer

A big opioid settlement and a COVID-19 vaccine slowdown helped drop Walgreens’ fiscal third-quarter earnings, but the drugstore chain still topped expectations. The company said Thursday that earnings slid to $289 million in the quarter that ended May 31. That’s down from about $1.2 billion the previous year. Walgreens booked a $683 million charge from a settlement announced last month with the state of Florida to resolve claims tied to dispensing prescription opioids. The company also saw a drop in the performance of its U.S. pharmacies, when a COVID-19 vaccination push brought more people to its stores.