Walgreens Boots Alliance Inc. WBA, +0.97% shares rose 2.6% in Thursday premarket trading after the pharmacy retailer reported fiscal first-quarter results that beat expectations and raised its full-year guidance. Net income totaled $3.58 billion, or $4.13 per share, after a loss of $308 million, or 36 cents per share, last year. Adjusted EPS of $1.68 beat the FactSet consensus for $1.36. Sales of $33.9 billion were up from $31.44 billion and also ahead of the FactSet consensus for $32.88 billion. U.S. retail comparable sales rose 10.6% while Boots UK comparable sales rose 16.3%. Covid-19 testing and vaccinations and comparable sales increases drove the company beyond its expectations, Walgreens said in the earnings release. The company has created a new reporting segment, Walgreens Health, adding to the U.S. and International segments. Walgreens Health includes primary care service provider VillageMD, hospital pharmacy business Shields, and a business that contracts with providers for physical and digital healthcare services. Walgreens raised its full-year adjusted EPS guidance to low-single digit growth from flat previously. The FactSet consensus is for EPS of $4.95, implying a 0.8% increase. Walgreens stock has run up 25.5% over the last year, nearly in line with the S&P 500 index SPX, -1.94%, which has gained 25.4%.
View Article Origin Here
