Net profit, on an adjusted basis, increased to $1.20 per share in the second quarter of 2024 from $1.16 per share in the corresponding period of last year and came in above analysts’ forecast. On an unadjusted basis, it was a net loss of $5.91 billion or $6.85 per share in Q2, compared to a profit of $703 million or $0.81 per share in the prior year period.
Net sales increased 6.3% year-over-year to $37.05 billion in the February quarter. Sales also exceeded estimates. The company narrowed its fiscal 2024 adjusted EPS guidance to $3.20 to $3.35, reflecting the challenging retail environment in the U.S., early wind-down of sale-leaseback program, and lower earnings due to Cencora share sales.
