Walgreens Boots Alliance Reported Fiscal Second-Quarter Earnings

Mar 31, 2022 By MarketDepth

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Walgreens Boots Alliance (NASDAQ: WBA) reported fiscal second-quarter earnings Thursday that surpassed analysts expectations. The results come amid a rise in demand for booster shots and tests following a surge in omicron cases. However, shares tumbled 4% in premarket trading, as investors voiced concern that the chain may lose drive as pandemic-related demand decreases.

Higher Than Expected Earnings

The drugstore chain reported earnings of USD1.59 per share, compared to the expected USD1.40 a share. Revenue amounted to USD33.76 Billion, higher than analysts anticipated USD33.4 Billion.

“Second quarter results demonstrated broad-based execution, driving strong comparable sales and robust earnings growth. We continue to make important strides along our strategic priorities, building a consumer-centric, technology-enabled healthcare enterprise at the center of local communities. VillageMD and Shields are delivering tremendous pro forma sales growth compared to their year-ago standalone results, and our Walgreens Health segment is on track toward long-term targets. The strategic review of our Boots business is progressing, and our transformational actions are accelerating sustainable value creation.”

Statement from Walgreens Boots Alliance

Walgreens stated that same-store U.S. sales for retail climbed 14.7% within the three-month period, in comparison to the previous year, the largest boost in more than 20 years. According to the company, it expects to grow in all categories – specifically with health and wellness items.

The American pharmaceutical company’s shares have plummeted 9% throughout the year and have a current market value of USD40.97 Billion.