Walgreens Reports Positive Q4 Results Amid Shift to Healthcare

Walgreens Reports Positive Q4 Results Amid Shift to Healthcare

Walgreens Boots Alliance (NASDAQ: WBA) posted better-than-expected fiscal fourth-quarter results Thursday morning, as its shifts into a more health-care-focused company. Additionally, the drugstore chain’s 2023 forecast also came in above expectations.

The multinational holding company reported earnings of USD0.80 per share, in comparison to the expected USD0.77 a share. Revenue amounted to USD32.45 Billion, higher than analysts anticipated USD32.09 Billion. Nevertheless, sales came in at a loss of USD415 Million, compared to the previous year’s net income of USD627 Million.

“WBA has delivered ahead of expectations in the first year of our transformation to a consumer-centric healthcare company. Our resilient business achieved growth while navigating macroeconomic headwinds. Fiscal 2023 will be a year of accelerating core growth and rapidly scaling our U.S. Healthcare business. Our execution to date provides us visibility and confidence to increase the long-term outlook for our next growth engine and reconfirm our path to low-teens adjusted EPS growth. Our strategic actions are unlocking sustainable shareholder value as we simplify the company and continue our journey to being a healthcare leader.”

The company has made massive investments as it strives to become a large healthcare company. It is opening hundreds of doctor offices with Village MD. Additionally, it invested USD5.2 Billion to become a majority owner of the primary-care company. The chain also plans to advance the acquisition of two other companies: CareCentrix and Shields Health Solutions.

Walgreens shares have fallen nearly 39% throughout the year and have a market cap of USD29.19 Billion.

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