US Retail Pharma Giant Walgreens Boots Alliance Q3 Earnings And Annual Outlook Disappoints, Stock Sinks
Portfolio Pulse from Vandana Singh
Walgreens Boots Alliance (WBA) reported disappointing Q3 earnings and cut its annual outlook, leading to a significant drop in its stock price. Despite a slight increase in sales, the company's adjusted EPS missed expectations, and it faces challenges in the U.S. retail and pharmacy segments.
June 27, 2024 | 12:34 pm
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Walgreens Boots Alliance reported Q3 sales of $36.35 billion, beating expectations, but adjusted EPS of $0.63 missed the consensus of $0.71. The company cut its fiscal year 2024 adjusted EPS guidance to $2.80-$2.95, down from $3.20-$3.35, citing challenging pharmacy industry trends and a tough U.S. consumer environment. As a result, WBA shares dropped 15.40% in premarket trading.
The disappointing Q3 earnings, missed EPS expectations, and reduced annual guidance indicate significant challenges for Walgreens Boots Alliance. The stock's 15.40% drop in premarket trading reflects investor concerns about the company's future performance.
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