Walgreens Boots Alliance (NASDAQ:WBA) posted a fiscal year 2024 profit guidance that falls short of Wall Street predictions, following its missed quarterly earnings due to decreased consumer spending and a significant decline in COVID-19 product sales.

Amid challenges like ongoing weak prescription drug demand, pharmacy staff departures, and a strategic shift towards integrated health services, the company also grappled with sluggish sales in consumer health products, attributed to sustained high inflation.

For Q4, Walgreens reported earnings per share (EPS) of $0.67, slightly missing the projected $0.69. The quarterly revenue was $35.4 billion, surpassing the expected $34.82 billion. For 2024, Walgreens anticipates an EPS between $3.20 and $3.50, contrasting with the market consensus of $3.70.