Walgreens Boots Alliance (NASDAQ: WBA) reported Q3 EPS of $1.33, $0.03 better than the analyst estimate of $1.30. Revenue for the quarter came in at $30.12 versus the consensus estimate of $29.75 billion.

Share repurchase program

Company authorizes $5 billion share repurchase program

GUIDANCE:

Walgreens Boots Alliance sees FY2017 EPS of $4.98-$5.08.

Rite Aid Acquisition

Walgreens Boots Alliance also announced today a new definitive agreement with Rite Aid Corporation under which Walgreens Boots Alliance will purchase 2,186 stores, three distribution centers and related inventory from Rite Aid. The consideration for the transaction will be $5.175 billion in cash, the assumption by Walgreens Boots Alliance of the related real estate leases and the grant of an option to Rite Aid, exercisable through May 2019 and subject to certain conditions, to become a member of Walgreens Boots Alliance’s group purchasing organization, Walgreens Boots Alliance Development GmbH. Walgreens Boots Alliance will also assume certain limited store-related liabilities as part of the new transaction.

This new agreement replaces the previous merger agreement with Rite Aid, announced in October 2015 and amended in January 2017, and the agreement to divest certain Rite Aid stores to Fred’s, Inc. announced in December 2016. Both of these agreements have been terminated. The new transaction is subject to the expiration or termination of applicable waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and other customary closing conditions. The initial closing of the new transaction is expected to occur within the next six months.

For earnings history and earnings-related data on Walgreens Boots Alliance (WBA) click here.