Walgreen reported its fiscal fourth quarter results this morning which saw profits come in at $353 million, or 39 cents per share. Excluding one-time charges, the company earned 63 cents per share, easily topping Wall Street estimates. Year-over-year, the company saw revenue decline by 5% to $17.1 billion, most likely related to the contract dispute with benefits manager Express Scripts (ESRX). The two companies have since reconciled, but the new business arrangement did not begin in the fiscal fourth quarter.
Shares of Walgreen were lower this morning, falling 0.5% so far.