Walgreens Boots Alliance delivers Q4 EPS beat
By Iain Gilbert
Date: Thursday 13 Oct 2022
(Sharecast News) - Drugstore chain Walgreens Boots Alliance swung to a net loss in the fourth quarter despite posting earnings per share that beat forecasts and revenues that came in at the top end of analysts' expectations.
Walgreens Boots reported quarterly earnings per share of $0.80 each and revenues of $32.45bn, beating expectations of $0.77 per share and $32.09bn, respectively.
However, the Deerfield-based group, which hopes to pivot into being a healthcare-focussed company, said sales declined year-on-year and, after including certain costs, actually swung to a net loss of $415.0m in the three-month period, compared to a net income of $627.0m a year earlier.
Walgreens highlighted that profits took a hit from a non-cash impairment charge in relation to its Boots UK business and its long-term cost management program.
Going forward, WBA anticipates full-year adjusted earnings per share of $4.45 to $4.65 for the coming fiscal year but cautioned that business growth will now face tough comparisons.
As of 1240 BST, Walgreens Boots shares were down 2.05% at $31.94 each.
Reporting by Iain Gilbert at Sharecast.com
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