Walgreens Q4 Profit, Annual Outlook Falls Short Of Expectations On Lower Demand For Covid Vaccines, Tests
Portfolio Pulse from Vandana Singh
Walgreens Boots Alliance Inc's Q4 FY23 sales increased 9.2% Y/Y to $35.4 billion, beating the consensus of $34.82 billion. However, adjusted EPS decreased 18% to $0.67, missing the consensus of $0.69 due to lower volumes of COVID-19 vaccinations and testing. The company's FY24 adjusted EPS forecast of $3.20-$3.50 falls short of the consensus of $3.73.
October 12, 2023 | 12:40 pm
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Walgreens' Q4 FY23 sales beat expectations but EPS and FY24 EPS forecast fell short due to lower COVID-19 vaccine and testing volumes.
Walgreens' Q4 sales beat expectations, which is positive. However, the company's EPS fell short of expectations due to lower volumes of COVID-19 vaccinations and testing. This, along with the lower than expected FY24 EPS forecast, could negatively impact the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100