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Walgreens Raises Yearly Forecast, Reports Strong Q3 Earnings

By John F. Heerdink, Jr.

Walgreen Boots Alliance (WBA) reported strong third-quarter earnings this week, reporting adjusted earnings per share of $1.51 versus $1.17 expected, and revenue of $34.03 billion was reported versus $33.76 billion expected. The retailer raised its outlook for the year, expecting about 10% growth in adjusted earnings per share for the year as sales bounced back and a considerable boost received from Covid-19 shots. Previously, the retailer had forecast growth in mid-to-high single digits.

“This quarter’s results demonstrate continued momentum, and while challenges lie ahead, we are in a strong position to grow and innovate our core retail and pharmacy businesses for the future,” stated new CEO Roz Brewer.

Walgreens reported a net profit of $1.20 billion, or $1.38 per share for the quarter, compared with a net loss of $1.71 billion, a year earlier. Sales increased to $34.03 billion from $30.36 billion a year earlier, exceeding analyst estimates of $33.76 billion. Walgreens’ same-store sales in the U.S. increased by 6.4% compared with a year ago. Comparable retail sales increased 1.7% in comparison with the year-ago quarter, as more customers received personalized offers, purchased beauty items, and printed photos.

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 swings to a profit, raises forecast as it looks to accelerate growth under new CEO in CNBC)


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