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Walgreens reports Q2 results: ‘supply chain is improving’

Walgreens Boots Alliance Inc (NASDAQ: WBA) on Thursday reported market-beating results for its fiscal second quarter. Shares still slid 8.0% as YoY growth and reiterated guidance failed to inspire investor confidence.

Notable figures in Walgreens Q2 results

Net income printed at $883 million versus the year-ago figure of $1.026 billion.
Per-share earnings came in at $1.02, a decline from last year’s $1.19.
On an adjusted basis, Walgreens earned $1.59, as per the earnings press release.

At $33.8 billion, sales were up roughly 3.0% on a year-over-year basis.
FactSet consensus was for $1.39 of adjusted EPS on $33.2 billion in revenue.
Comparable sales in the U.S. and the U.K. jumped 14.7% and 22%, respectively.
Administered 11.8 million doses of COVID vaccine in the second quarter.

Strategic review of the U.K. subsidiary, Boots, continued in Q2.

Future guidance and CEO’s remarks

Walgreens left its full-year outlook unchanged at low-single digit growth in adjusted EPS versus analysts at 2.30%. Speaking with CNBC’s Bertha Coombs, CEO Roz Brewer agreed that inflation remained a headwind but said supply pressures were somewhat easing.

Supply chain is improving. I’m seeing some improvement there. What I’d love to see more is on the inflation side, where, unfortunately we’re having to pass some of that on to the customers. But we are also looking at ways to reduce our cost to offset inflation.

A day earlier, Walgreens started deploying robots to fill prescriptions.  

The post Walgreens reports Q2 results: ‘supply chain is improving’ appeared first on Invezz.

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