Walgreens posted mixed quarterly earnings

By: Miguel A. Rodriguez

17:53, 15 October 2020

Profit fell less than forecasted

One of the largest pharma chains in the US, Walgreens had its financial report. The figures came in mixed.

The quarterly profit fell less than expected to $373 million, or 43 cents per share. The last year’s figures were $677 million. The EPS decreased to $1.02, but it topped the 96 cents consensus.

Walgreens sales rose 2.3% to $34.75 billion. The market was looking for $34.37 billion.  At a US level, sales increased 3.6% to $27 billion.

At a global level, sales dropped 14.9% to $2.3 billion. However, the figures came in higher than the $2.2 billion expected.

For the future, Walgreen expects strong EPS growth.

Following the news, Walgreen stock price gained almost 3%. Year-to-date, the stock dropped 39%.

Sources: marketwatch.com

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