Categories AlphaGraphs, Earnings, Health Care

Walgreens Boots Alliance (WBA) Q3 profit drops on lower revenues; results beat

June 30, 2022June 30, 2022

Walgreens Boots Alliance, Inc. (NASDAQ: WBA) on Thursday said its third-quarter revenues decreased. As a result, the healthcare service company’s adjusted profit declined but exceeded consensus estimates.

Net profit, on an adjusted basis, dropped to $0.96 per share in the third quarter of 2022 from $1.38 per share in the corresponding period of last year but topped expectations. Unadjusted profit declined to $289 million or $0.33 per share from $1.2 billion or $1.38 per share in the prior-year period.

Net sales decreased 4% year-over-year to $32.6 billion but came in above analysts’ forecast. The company also provided guidance for the full fiscal year.

Check this space to read management/analysts’ comments on Walgreen Boots Alliance’s Q3 results

“Third quarter results were broadly in line with our expectations, demonstrating the resilience of our business through our deep community connections and relevance to consumers. Walgreens Health achieved 65 percent pro forma sales growth with progress on several fronts, including adding Buckeye Health Plan as a strategic partner, already exceeding our 2022 target for covered lives, and launching our clinical trials business,” said Walgreens CEO Rosalind Brewer.