Walgreens Boots Alliance Beat First-Quarter Analysts’ Expectations

Jan 6, 2022 By MarketDepth

Breaking Business Headlines Investing Lifestyle What's Hot

Stock Chart

Walgreens Boots Alliance (NASDAQ: WBA) topped first-quarter analysts’ expectations on Thursday and subsequently increased its forecast for the year. Customers continue to shop for at-home test kits as well as visit the pharmacy for Covid booster shots and childrens first-time vaccinations. Shares rose approximately 3% during premarket trading amid the news.

Beat Four Consecutive Quarters

The company has beat consensus EPS estimates four times throughout the last four quarters.

Beat Expectations by $1 Billion

The American company reported earnings of USD1.68 per share, compared to the expected USD1.33 a share. Revenue amounted to USD33.90 Billion, higher than analysts anticipated USD32.74 Billion.

“First quarter results exceeded our expectations, with a very encouraging performance across all our business segments. I am particularly excited about the progress we’re making in building out Walgreens Health. Our majority investments in VillageMD and Shields closed during the quarter, and we’re rolling out VillageMD primary care co-locations and Walgreens Health Corners at pace. The strong start to the fiscal year reinforces our confidence in the future, and as a result, we are raising our guidance for the full year and increasing investments in our people. Looking ahead, we are well positioned for sustainable, long-term value creation.”

Chief Executive Officer Rosalind Brewer

Walgreens shares have risen 31% within the past 12 months, and has a current market value of USD46.74 Billion.