Walgreens Beats Estimates In Fiscal Q2

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Walgreens Boots Alliance reported its financial results for Q2 today.

Here’s what its CEO Tim Wentworth said in a press release on Thursday.

WBA is currently down close to 20% versus the start of this year.

Walgreens Boots Alliance Inc (Nasdaq: ) is trading slightly up in premarket on Thursday after reporting upbeat financial results for its second quarter.
Walgreens’ guidance for the full yearInvestors are cheering also because the management issued encouraging guidance for the future. WBA now forecasts its adjusted per-share earnings to fall between $3.20 and $3.35 in fiscal 2024.Analysts, in comparison, were at $3.24 per share. Tim Wentworth – the chief executive of Walgreens Boots Alliance said in a today:

We remain confident in our goal of achieving $1 billion in cost savings this year. We are continuing to strategically review our portfolio over the next three months in an effort to ensure it drives growth and delivers value.

Walgreens expects its U.S. adjusted EBITDA to break even this year. Wall Street currently has a consensus “hold” rating on WBA.
Walgreens Q2 earnings snapshot

Lost $5.9 billion that translates to $6.85 per share

Had $703 million in net earnings a year ago

Adjusted EPS printed at $1.20 as per the earnings report

Sales jumped 6.3% year-over-year to $37.1 billion

Consensus was 82 cents a share on $36.48 billion in revenue

Walgreens took a rather sizable $6.0 billion goodwill impairment charge related to VillageMD in the second quarter. Still, CEO Wentworth said on Thursday:

We’re encouraged by our first quarter of U.S. Healthcare positive adjusted EBITDA and another quarter of strong execution in pharmacy, as we look to re-energize and evolve its impact both at Walgreens and at large.

WBA currently pays a yield of 4.76%.