Walgreens Q1 2023 Earnings Report
Key Takeaways
Walgreens Boots Alliance reported first quarter fiscal 2023 results with sales decreasing 1.5 percent year-over-year to $33.4 billion. Adjusted EPS decreased 30.8 percent to $1.16. The company is maintaining full-year adjusted EPS guidance and raising full-year sales guidance.
First quarter loss per share was $4.31, compared to earnings per share of $4.13 in the year-ago quarter, reflecting a $6.5 billion pre-tax charge for opioid litigation.
Adjusted EPS decreased 30.8 percent to $1.16, down 29.9 percent on a constant currency basis.
First quarter sales decreased 1.5 percent year-over-year to $33.4 billion, up 1.1 percent on a constant currency basis.
Full-year adjusted EPS guidance maintained at $4.45 to $4.65; full-year sales guidance raised to $133.5 billion to $137.5 billion.
Walgreens
Walgreens
Walgreens Revenue by Segment
Walgreens Revenue by Geographic Location
Forward Guidance
Walgreens is maintaining its full-year adjusted EPS guidance of $4.45 to $4.65 and raising its full-year sales guidance to $133.5 billion to $137.5 billion.
Positive Outlook
- Strong core business growth
- Summit Health acquisition
- Refreshed currency rates
- First quarter sales ahead of expectations
- U.S. Healthcare targets raised with Summit Health announcement
Challenges Ahead
- Lapping fiscal year 2022 COVID-19 execution
- Currency headwinds