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Walgreens Q4 Earnings Exceeded Expectations – Informs Rise In Covid-19 Vaccinations

By John F. Heerdink, Jr.

As per reports, Walgreen Boots Alliance (WBA) exceeded Wall Street’s expectations for fiscal fourth-quarter earnings, as the demand for Covid-19 vaccines increases. During the quarter, Walgreens administered 13.5 million vaccines, nearly double the approximately 7 million it had expected in the three-month period. The vaccination drive is expected to increase as people get booster doses and younger children are expected to soon qualify for the shots.

“Mandates are playing a role. There are many companies and organizations, cities and municipalities that are mandating and I think it’s forcing people to say ‘I need to go to work. So I have to get this vaccine.’ So it is creating an increase. And we’re seeing that in our stores,” stated CEO Roz Brewer in an interview.

The company reported the following for the Fourth-Quarter ended Aug. 31. :

  • Earnings per share of $1.17 adjusted versus $1.02 expected.
  • Revenue of $34.26 billion was reported versus $33.30 billion expected.
  • Net income increased to $627 million, or 72 cents per share, from $373 million, or 43 cents per share, a year earlier.
  • Walgreens earned $358 million, or 41 cents a share, from its continuing operations during the latest quarter.
  • Sales also increased to $34.26 billion from $30.37 billion a year earlier, higher than the analyst estimates of $33.30 billion.
  • Sales online and at Walgreens stores in the U.S. open at least a year rose 8.1% from the year-ago quarter, as consumers got Covid-19 vaccinations and filled more prescriptions.
  • Sales of health and wellness products increased 14% year over year, as consumers bought more at-home Covid tests, over-the-counter medications for coughs, colds, and flu, and vitamins.
  • The retailer’s international segment, which includes United Kingdom-based chain Boots is reviving after Covid-19 restrictions were lifted in July. Sales online and at Boots U.K. stores open at least a year increased 11.4% in pharmacy services and 15% in retail in comparison with the year-ago quarter.

Walgreen Boots Alliance (WBA) is a pharmacy-led, health and well-being enterprise with a long history of trusted healthcare services, community pharmacy care, and pharmaceutical wholesaling dates. To learn more about Walgreen Boots Alliance (WBA) and to continue to track its progress please visit the Vista Partners Walgreens Boots Alliance Page.

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Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.

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(Read Original Story: Walgreens earnings top estimates, as drugstore gives twice as many Covid vaccines as expected in CNBC)


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