) shares plunge by as much as 20% in pre-market trading after the pharmacy chain slashed its full-year 2024 profit guidance on top of an adjusted earnings miss in the third quarter.breaks down WBA's latest figures and CEO Tim Wentworth's comments on the pressure the pharmacy side of the business is facing.
That is also that is, actually helped their their revenues for the quarter, bringing in a little bit more as they've sort of balanced out where the demand is.They've also talked about the back and now we know that pharmacies broadly are under pressure in the country, facing a lot of pressure from PB MS, which we know set the rates for them.
And they are in active discussions with PB, MS and other payers to align incentives and ensure they are paid fairly.Walgreens did openly talk about being underpaid for some brands. It looks like that those discussions of selling it were off the table because they are looking at the profitability that it has opportunity it has.