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Walgreens Boots (WBA) Tops Q1 Earnings, Misses on Revenues
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Are you a frequent visitor to retail drugstores? Then you must have come across at least one of the 13,100 drugstores operated by Walgreens Boots Alliance, Inc. (WBA - Free Report) . This Illinois-based company is the first global pharmacy-led, health and wellbeing enterprise.
Currently, Walgreens Boots has a Zacks Rank #3 (Hold) but that could change following itsmixedfirst quarter fiscal 2017 earnings report which has just released. (You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. ) We have highlighted some of the key details from the just-released announcement below:
Earnings: The Zacks Consensus Estimate remained steady at $1.09 per share over the last 60 days. Walgreens Boots’ adjusted earnings per share of $1.10 beat this estimate by 0.9%.
Revenues: Walgreens posted revenues of $28.5 billion and missed the Zacks Consensus Estimate for revenues of $29.3 billion by 2.8%.
Key Stats: Revenue from the Retail Pharmacy USA division increased 1.4% to $20.7 billion, while revenues from the Pharmaceutical Wholesale division fell 6.5% to $5.4 billion. Revenues from the Retail Pharmacy International division also dropped 14.4% to $3.0 billion. Moreover, Walgreens Boots filled 237.6 million prescriptions (including immunizations) on a 30-day adjusted basis in the quarter, reflecting an increase of 3.0 % over first quarter of fiscal 2016.
Major Factors: Per management, Walgreens Boots first quarter 2017 results were in line with its expectations, while continuing to make progress in several key areas, including development in the company’s long-term strategic relationships and pursuing partnership opportunities. With respect to the impending Rite Aid takeover, the company is working on closing the pending acquisition of Rite Aid Corporation in the early part of this calendar year. Walgreens Boots continue to anticipate that growth in the second half of fiscal 2017 that will reflect the new strategic pharmacy partnerships that was announced last year. The company has raised the lower end of its guidance for fiscal year 2017 by 5 cents per share and anticipates adjusted diluted net earnings per share of $4.90 to $5.20.
Stock Price: Following the earnings release, share prices dropped 0.10% during the pre-market trading session.
Check back later for our full write up on this Walgreens Boots earnings report later!
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Walgreens Boots (WBA) Tops Q1 Earnings, Misses on Revenues
Are you a frequent visitor to retail drugstores? Then you must have come across at least one of the 13,100 drugstores operated by Walgreens Boots Alliance, Inc. (WBA - Free Report) . This Illinois-based company is the first global pharmacy-led, health and wellbeing enterprise.
Currently, Walgreens Boots has a Zacks Rank #3 (Hold) but that could change following itsmixedfirst quarter fiscal 2017 earnings report which has just released. (You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. ) We have highlighted some of the key details from the just-released announcement below:
Earnings: The Zacks Consensus Estimate remained steady at $1.09 per share over the last 60 days. Walgreens Boots’ adjusted earnings per share of $1.10 beat this estimate by 0.9%.
WALGREENS BAI Price and EPS Surprise
WALGREENS BAI Price and EPS Surprise | WALGREENS BAI Quote
Revenues: Walgreens posted revenues of $28.5 billion and missed the Zacks Consensus Estimate for revenues of $29.3 billion by 2.8%.
Key Stats: Revenue from the Retail Pharmacy USA division increased 1.4% to $20.7 billion, while revenues from the Pharmaceutical Wholesale division fell 6.5% to $5.4 billion. Revenues from the Retail Pharmacy International division also dropped 14.4% to $3.0 billion. Moreover, Walgreens Boots filled 237.6 million prescriptions (including immunizations) on a 30-day adjusted basis in the quarter, reflecting an increase of 3.0 % over first quarter of fiscal 2016.
Major Factors: Per management, Walgreens Boots first quarter 2017 results were in line with its expectations, while continuing to make progress in several key areas, including development in the company’s long-term strategic relationships and pursuing partnership opportunities. With respect to the impending Rite Aid takeover, the company is working on closing the pending acquisition of Rite Aid Corporation in the early part of this calendar year. Walgreens Boots continue to anticipate that growth in the second half of fiscal 2017 that will reflect the new strategic pharmacy partnerships that was announced last year. The company has raised the lower end of its guidance for fiscal year 2017 by 5 cents per share and anticipates adjusted diluted net earnings per share of $4.90 to $5.20.
Stock Price: Following the earnings release, share prices dropped 0.10% during the pre-market trading session.
Check back later for our full write up on this Walgreens Boots earnings report later!
Zacks’ Best Private Investment Ideas
While we are happy to share many articles like this on the website, our best recommendations and most in-depth research are not available to the public.
Starting today, for the next month, you can follow all Zacks' private buys and sells in real time. Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Click here for Zacks' private trades >>