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Walgreens earnings top estimates, sales drop 4.2%

Yahoo Finance Live anchors discuss third-quarter earnings for Walgreens.

Video Transcript

- Now, of course, we're also watching some earnings out this morning too. And guys, looking at Walgreens Boots Alliance, not that bad of a quarter from Walgreens. US sales up 1.4%, all in all, decent.

- On sort of a bigger picture basis, as well, as we look at the shares falling even with that decent number, I mean, we keep hearing this drumbeat from sort of strategist after strategist, that earnings estimates need to come down, that they're going to come down.

We talked to Matt Maley yesterday who said the E in the PE is going to come down and make everything look more expensive. And so you have that sort of wait, sort of vibe wait, if you will, if not actual weight, in the numbers coming, in a lot of specific cases, and then writ large for the market as well.

- Yeah. What I'll briefly add to this is pharmacy, that saw a decline in this most recent quarter. And it begs the question of, when you do see some of the pullback of the number of people that are actually making their way into a Walgreens to get vaccinations, where that sale's actually comes in from or where it props up some of the other retail and pharmacy sales going forward.