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May 31, 2024
Walgreens Q3 2024 Earnings Report
Walgreens reported a decrease in adjusted EPS despite a slight increase in sales, driven by challenges in the U.S. retail environment and pharmacy industry trends.
Key Takeaways
Walgreens Boots Alliance reported a 2.6% increase in sales to $36.4 billion for the third quarter of fiscal year 2024. However, adjusted EPS decreased by 36.6% to $0.63, impacted by lower sale-leaseback gains and a challenging U.S. retail environment. The company is lowering its fiscal year 2024 adjusted EPS guidance to $2.80 to $2.95.
Third quarter sales increased 2.6% year-over-year to $36.4 billion.
Adjusted EPS was $0.63, a 36.6% decrease compared to the prior year.
Lowering fiscal 2024 adjusted EPS guidance to $2.80 to $2.95.
Strategic review underway to optimize footprint and improve customer experience.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Walgreens is lowering its fiscal 2024 adjusted EPS guidance to $2.80 - $2.95, reflecting persistent pressures on the U.S. consumer and the impact of recent marketplace dynamics which have eroded pharmacy margins.
Positive Outlook
- Focusing on improving core business: retail pharmacy.
- Addressing critical issues with urgency.
- Working to unlock opportunities for growth.
- Finalizing significant multiyear footprint optimization program to close certain underperforming U.S. stores
- Launching U.S. Retail Pharmacy action plan to invest in and deliver an improved customer and patient experience across channels
Challenges Ahead
- Facing a difficult operating environment.
- Persistent pressures on the U.S. consumer.
- Impact of recent marketplace dynamics eroding pharmacy margins.
- Challenging pharmacy industry trends.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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