Categories AlphaGraphs, Earnings, Retail

Walgreens’ Q3 results beat estimates

Walgreens Boots Alliance Inc. (NASDAQ: WBA) topped analysts’ forecasts on both revenue and earnings for the third quarter of 2019. Shares were up by 0.61% in premarket hours on Thursday. The consensus target was for earnings of $1.43 per share on revenue of $34.5 billion.

Sales increased 0.7% year-over-year on a reported basis, and 2.9% on a constant currency basis, to $34.6 billion. The increase was driven mainly by growth in the Retail Pharmacy USA and Pharmaceutical Wholesale divisions.

Walgreens reports third quarter 2019 earnings results

Reported net earnings attributable to Walgreens Boots Alliance decreased 23.6% to $1 billion while EPS fell 16.5% to $1.13 versus last year. Adjusted earnings dropped 12.1% to $1.3 billion while EPS declined 4% to $1.47.

Sales in the Retail Pharmacy USA segment grew 2.3% to $26.5 billion from last year. Excluding store optimisation impacts related to the Rite Aid stores acquisition, organic sales rose 2.9%. The majority of the division’s sales came from pharmacy sales, which grew 4.3% year-over-year, helped by higher brand inflation and prescription volume as well as strength in central specialty. Retail sales fell 2.9% in the quarter.   

Retail Pharmacy International sales fell 7.3% to $2.8 billion versus the prior-year period, reflecting an adverse currency impact of 5.7%. The Pharmaceutical Wholesale unit saw a drop of 1.7% in sales to $5.9 billion, due to a 10% adverse currency impact.  

Walgreens maintained adjusted EPS guidance for fiscal 2019 of roughly flat, at constant currency rates. On a reported currency basis, the company anticipates approx. $0.06 per share of adverse currency impact.

During the quarter, the company declared a quarterly dividend of $0.44 per share, payable on June 12, 2019 to stockholders of record as of May 18, 2019.

Also Read:  After Ford, Nike suffers from behavioral hiccups

Get access to timely and accurate verbatim transcripts that are published within hours of the event.

Most Popular

Cloudera (CLDR) posts narrower loss in Q1, beats estimates

Cloudera Inc. (NYSE: CLDR) reported a narrower loss in the first quarter of 2021 driven by lower costs and expenses as well as higher revenue. The results exceeded analysts' expectations.

CrowdStrike (CRWD): Shift to digital transformation presents huge expansion opportunity

CrowdStrike Holdings Inc. (NASDAQ: CRWD) has witnessed strong momentum with the stock gaining over 96% since the beginning of the year. The company delivered strong results for the first quarter

Why Zscaler (ZS) stock reached all-time high on Monday?

Internet security has been evolving over time, aided by the rapid adoption of cloud computing, the ubiquity of mobile phones, and the growing threats that cause serious problems to enterprises

Top