News Summary: Walgreen 1Q profit drops 26 pct
BIG DROP: Walgreen Co. said Friday its fiscal first-quarter earnings sank nearly 26 percent as costs tied to a couple big deals and Superstorm Sandy put a bigger-than-expected dent in the drugstore chain's performance.
THE DETAILS: Walgreen earned $413 million, or 43 cents per share. That compares with net income of $554 million, or 63 cents per share, a year ago. Excluding one-time costs, adjusted earnings were 58 cents per share.
THE EXPECTATION: Analysts forecast, on average, earnings of 70 cents per share, according to FactSet.