11:31 AM EDT, 06/27/2024 (MT Newswires) -- (Updates with the latest stock price movement in the headline and first paragraph.)

Walgreens Boots Alliance ( WBA ) shares were down nearly 25% in recent Thursday trading after the drug-store operator's fiscal Q3 adjusted earnings fell short of market estimates, while the company cut its full-year earnings outlook.

The company reported fiscal Q3 adjusted net earnings of $0.63 per diluted share, down from $1 a year earlier.

Analysts polled by Capital IQ expected $0.71.

Sales for the quarter ended May 31 were $36.35 billion, up from $35.42 billion a year earlier.

Analysts surveyed by Capital IQ expected $35.93 billion.

The company said it now expects fiscal 2024 adjusted EPS of $2.80 to $2.95, compared with its prior outlook range of $3.20 to $3.35.

Analysts polled by Capital IQ expect $3.16.

Price: 11.79, Change: -3.87, Percent Change: -24.71