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Walgreens Boots (WBA) Tops Q3 Earnings, Revenues Estimates

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Are you a frequent visitor to retail drugstores? Then you must have come across at least one of the more than 13,200 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 its impressive third quarter fiscal 2018 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: Walgreens Boots’ adjusted earnings per share of $1.53, up 13.5% year over year (at constant currency) surpassed the Zacks Consensus Estimate figure of $1.47.

Revenues: Walgreens posted revenues of $34.33 billion grew 14% year over year (an increase of 11.8% on a constant currency basis) which is ahead of the Zacks Consensus Estimate of $33.65 billion.

Key Stats: In the reported third quarter fiscal 2018, revenues from the Retail Pharmacy USA division increased 15% to $25.9 billion, while revenues from the Pharmaceutical Wholesale division rose 12.6% to $6 billion. Revenues from the Retail Pharmacy International division also rose 6.6% to $3 billion (down 2.1% at constant currency).

Major Factors: Per management, Walgreens Boots third quarter 2018 results were encouraging. This is on account of the company’s strategic tie-ups which brought more patients to its U.S. pharmacies. The company has also been gaining increased market share in the Retail Pharmacy USA segment along with growing prescription volumes. Management is currently optimistic about its ongoing cost transformation program and remains confident about the long-term growth of the company. The company has narrowed its adjusted earnings per share outlook for fiscal 2018 to a new range of $5.90 to $6.05 from the earlier band of $5.85 to $6.05.

Stock Price: Following the earnings release, share prices rose 1.24% 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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