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Walgreens Tops Earning Estimates, Assisted By Strong Pharmacy Sales

By John F. Heerdink, Jr.

Walgreen Boots Alliance (WBA) reported its fiscal Q1 earnings, beating Wall Street estimates driven by strong pharmacy sales.

Earning highlights for the first quarter ending November, 30:

  • Adjusted EPS of $1.22 cents per share was reported, versus $1.03 expected.
  • Revenue of $36.31 billion was reported, versus $34.95 billion expected.
  • Walgreens reported a net loss of $308 million, or 36 cents per share, in comparison to net income of $845 million, or 95 cents per share, a year earlier.
  • Sales increased to $36.31 billion from $34.34 billion a year earlier, and exceeding analyst’s expectations at $34.95 billion.
  • Walgreens said its pharmacy sales picked up in the U.S. as it filled more prescriptions. Comparable pharmacy sales increased by 5% in comparison to a year earlier.
  • In the United Kingdom, Walgreen’s comparable pharmacy sales rose 2.5% percent compared with a year ago, due to reimbursement from the National Health System.
  • Walgreens maintained the fiscal 2021 forecast of low single-digit growth in adjusted EPS even as it anticipates a hit to current quarter earnings from the COVID-19 pandemic as the U.K goes through another lockdown.

Walgreens is working for growth opportunities amid the pandemic as the drugstore industry faces challenges and changing consumer shopping patterns. In order to meet the changing needs, Walgreens has included more health-care services and has expanded its digital offerings. It has also launched a new mobile app and offered a curbside pickup at its U.S. stores, which can have online purchases ready for customers in close to 30 minutes.

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 shares rise after its earnings top estimates, fueled by higher drug sales in CNBC)


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