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Nov 30, 2022
Walgreens Q1 2023 Earnings Report
Walgreens reported a decrease in sales and adjusted EPS, impacted by opioid litigation and lower COVID-19 vaccine volumes, while raising full-year sales guidance.
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
Revenue by Segment
U.S. Healthcare Revenue
CapyFin.comRevenue by Geographic Location
International Revenue
CapyFin.com 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