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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 13,100 drugstores operated by Walgreens Boots Alliance, Inc.WBA . 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 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 : Walgreens Boots' adjusted earnings per share of $1.33, up 12.7% year over year surpassed the Zacks Consensus Estimate figure of $1.31.

Walgreens Boots Alliance, Inc. Price, Consensus and EPS Surprise

Walgreens Boots Alliance, Inc. Price, Consensus and EPS Surprise | Walgreens Boots Alliance, Inc. Quote

Revenues : Walgreens posted revenues of $30.11 billion grew 2.1% year over year which is ahead of the Zacks Consensus Estimate of $29.68 billion

Key Stats : In the reported third quarter fiscal 2017, revenues from the Retail Pharmacy USA division increased 6.3% to $22.5 billion, while revenues from the Pharmaceutical Wholesale division fell 7.9% to $5.3 billion. Revenues from the Retail Pharmacy International division also dropped 10.3% to $2.8 billion. Moreover, Walgreens Boots filled 255.2 million prescriptions (including immunizations) on a 30-day adjusted basis in the quarter, reflecting an increase of 8.5% over third quarter of fiscal 2016.

Major Factors : Per management, Walgreens Boots third quarter 2017 results were in line with its expectations. This is on account of the company's strategic tie-ups which brought more patients to its U.S. pharmacies. This also led to its highest reported quarterly retail prescription market share in the U.S. Management is currently optimistic about its ongoing cost transformation program and remains confident about the long term growth of the company. The company has increased the lower end of its outlook for fiscal year 2017 by 8 cents per share and anticipates adjusted earnings per share of $4.98 to $5.08.

Stock Price: Following the earnings release, share prices rose 3.77% 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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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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