Business
Walgreens Reports Revenue Increase and Refines Earnings Forecast
Revenues surged by more than 6% to $37.05 billion – analysts had anticipated $35.86 billion.
![](https://images.prismic.io/eulerpool/0b501f91-a7ce-444e-865d-aef56dfba54f_Eulerpool-AlleAktien-Gewinneinbruch-bei-Walgreens-Boots-Alliance-Deutlicher-Ruckgang-Verzeichnet.jpeg?auto=false)
The Walgreens Boots Alliance reported an increase in sales for the second quarter of the fiscal year and refined its forecast for the adjusted annual results, citing a challenging retail environment.
The company reported a loss of $5.91 billion or $6.85 per share for the three months ending February 29, compared to a profit of $703 million or 81 cents per share in the same period last year. After adjustments for one-time items, including an impairment charge of $5.8 billion related to the primary care network VillageMD, the adjusted earnings amounted to $1.20 per share. Analysts had expected an adjusted profit of 82 cents per share.
Sales increased by more than 6% to $37.05 billion, while analysts had expected $35.86 billion. Revenue rose in all segments of the company, led by the U.S. healthcare business, which saw a 33% surge in revenue thanks to the acquisition of SummitHealth by VillageMD.
Comparable retail sales in the US fell by 4.3%, which Walgreens attributed to a challenging retail environment, channel shifts, and a weaker flu season. Comparable pharmacy sales in the US increased by 8.7%, driven by higher drug prices and strong execution in pharmacy services.
Walgreens also refined its forecast for the adjusted annual result citing the challenging retail environment and other factors. The company is now targeting an adjusted result of $3.20 to $3.35 per share, compared with a previous forecast of $3.20 to $3.50 per share.