WBA -1.77 to 19.92, last week reported solid Feb Q2 earnings but mildly disappointing guidance. Dividend yield is 5% (but maybe it will get cut again) and the PE based on Aug FY24 guidance is barely over 6. The chart shows technical support at around $20. You were wise to sell at $29 last June. Any interest at this price level ?
briefing -
Walgreens Boots Alliance beats by $0.38, beats on revs; guides FY24 EPS in-line (21.02 ) :
Reports Q2 (Feb) earnings of $1.20 per share, excluding non-recurring items, $0.38 better than the FactSet Consensus of $0.82; revenues rose 6.3% year/year to $37.05 bln vs the $35.86 bln FactSet Consensus.
The U.S. Retail Pharmacy segment had second quarter sales of $28.9 billion, an increase of 4.7 percent from the year-ago quarter. Comparable sales increased 4.8 percent from the year-ago quarter.
Pharmacy sales increased 8.2 percent compared to the year-ago quarter. Comparable pharmacy sales increased 8.7 percent in the quarter compared to the year-ago quarter, benefiting from higher branded drug inflation and strong execution in pharmacy services. Comparable prescriptions filled in the second quarter, adjusted to 30-day equivalents increased 2.7 percent from the year-ago quarter while comparable prescriptions excluding immunizations increased 2.9 percent. Total prescriptions filled in the quarter, including immunizations, adjusted to 30-day equivalents was 305.7 million, an increase of 2.6 percent versus the prior year quarter.
Retail sales decreased 4.5 percent and comparable retail sales decreased 4.3 percent compared with the year-ago quarter, reflecting a challenging retail environment, channel shift, and a weaker respiratory season, including a 170 basis point impact from lower seasonal and general merchandise sales, a 90 basis point direct impact from softer cold cough flu trends, and a 40 basis point impact from adverse January weather.
Co issues in-line guidance for FY24, sees EPS of $3.20-3.35 vs. $3.24 FactSet Consensus.
