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Nov 30, 2020
Walgreens Q1 2021 Earnings Report
Walgreens' first quarter results surpassed expectations with a focus on healthcare and omnichannel investments, despite a loss per share due to charges from equity earnings in AmerisourceBergen.
Key Takeaways
Walgreens Boots Alliance reported a 5.7% increase in sales to $36.3 billion for the first quarter of fiscal 2021. However, the company experienced a loss per share of $0.36, primarily due to a $1.73 per share charge from its equity earnings in AmerisourceBergen. Adjusted EPS decreased by 11.2% to $1.22. The company maintained its guidance of low single-digit growth in adjusted earnings per share for fiscal 2021.
Sales increased by 5.7 percent to $36.3 billion.
Loss per share was $0.36, impacted by a charge from AmerisourceBergen.
Adjusted EPS decreased 11.2 percent to $1.22.
Company maintained guidance of low single-digit growth in adjusted EPS for fiscal 2021.
Revenue by Segment
Forward Guidance
The company maintained fiscal 2021 guidance of low single-digit growth in adjusted earnings per share at constant currency rates.
Positive Outlook
- The first quarter exceeded expectations, reflecting strength in Boots UK and Boots Opticians.
- Company maintained guidance of low single-digit growth in adjusted earnings per share at constant currency rates.
- Walgreens pharmacists are playing a key, expanded role in fighting the COVID-19 pandemic.
- Walgreens launched myWalgreens, a complete reinvention of its customer loyalty program.
- Boots.com significantly expanded capacity and sales doubled from the year-ago quarter, outperforming the market.
Challenges Ahead
- The second quarter is expected to see higher adverse impacts from COVID-19 (including the weaker cough, cold and flu season).
- Opportunity from the distribution of vaccinations is likely to be offset by COVID-19 related lock-downs and restrictions.
- Opportunity from the distribution of vaccinations is likely to be offset by increased growth investments.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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