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Highlights:
- Walgreens Boots Alliance announces second-quarter results of the fiscal year 2022.
- Results showed EPS decreased to US$1.02 from US$1.06 in the year-ago quarter.
- Walgreens bagged strong sales during the winter months, retained its momentum for the year. Company bent on maintaining progress on strategic schemes.
A major player in the healthcare ecosystem, Walgreens Boots Alliance (Nasdaq:WBA) announced its second-quarter results on Thursday.
Its earnings per share (EPS) dipped to US$1.02 from US$1.06 in the year-ago quarter.
Shares of Walgreens Boots declined over 5 percent to US$45.08 at 2:04 pm ET after the results.
The integrated healthcare pharmacy and retailer with a 170-year legacy, run retail outlets spanning 13,000 locations in the US., Europe, and Latin America.
One of the speculated reasons for the downturn could be the slowing down of COVID vaccinations. As revealed by the drugstore chain, its COVID vaccination shots went down to 11.8 million in the second quarter compared to 15.6 million in the first quarter. Walgreens administered over 62.8 million Covid vaccines so far.
WBA’s second-quarter sales from continuing operations scaled 3.0 percent over the year-ago quarter to US$33.8 billion, a 3.8 percent up on a constant currency basis.
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Slump in Covid-19 vaccinations hit earnings
The results showed the company’s second-quarter operating income from continuing operations climbing to US$1.2 billion, an increase from the year-ago quarter income of US$832 million. The adjusted operating income from continuing operations was also seen moving north, increasing to US$1.7 billion.
WBA’s net earnings from continuing operations stood at US$883 million for the second quarter as compared to the year-ago quarter’s US$922 million.
The report showed Walgreens adjusted net earnings from continuing operations increasing 25.8 percent to US$1.4 billion, up by 26.4 percent on a constant currency basis from the year-ago quarter.
WBA remains steadfast in its pursuit to execute its strategy and grab strong results across its businesses, said Walgreens Chief Executive Officer Rosalind Brewer.
"Second quarter results demonstrated broad-based execution, driving strong comparable sales and robust earnings growth,” Brewer said.
“We continue to make important strides along with our strategic priorities, building a consumer-centric, technology-enabled healthcare enterprise at the center of local communities,” added Brewer.
Bottom line:
With a market cap of US$38.8 billion, Walgreens Boots Alliance is an industry leader in the retail pharmacy segment. The company’s EPS slumped in Q2, announced on Thursday. As per conjectures, the slowdown of Covid vaccinations is responsible for the dip in its shares.
