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.

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

Most Popular

Does Unity Software (U) stock has more room to run?

Last month, the IPO market was in a full swing. IPOs of Snowflake (NYSE: SNOW) and JFROG (NASDAQ: FROG) had an impressive opening day in September, the former creating a

PepsiCo (PEP): Steady snacking habits amid pandemic drive strong quarter for beverage giant

PepsiCo Inc. (NASDAQ: PEP) beat market expectations on both revenue and earnings for the third quarter of 2020. The company saw the momentum continue in its snacks business while the

Does the virus-driven boom make Electronic Arts (EA) a good investment?

With more and more people turning to virtual entertainment sources, amid the virus-related movement restrictions, video game publishers like Electronic Arts (NASDAQ: EA) are witnessing unusually high demand. Not surprisingly,

One thought on “Walgreens’ Q3 results beat estimates

Leave a Reply

Your email address will not be published. Required fields are marked *

Add Comment
Loading...

Cancel
Viewing Highlight
Loading...
Highlight
Close
Top