Walgreens Boots Alliance (NASDAQ:WBA) shares are trading higher on Tuesday after the company reported better-than-expected Q2 adjusted EPS and sales results.
Walgreens Boots Alliance’s Q2 FY23 sales increased 3.3% year-over-year to $34.9 billion, up 4.5% on a constant currency basis, beating the analyst consensus estimate of $33.53 billion. Adjusted EPS reached $1.16, down 25.8% on a constant currency basis, reflecting a 26% headwind from lower COVID-19 vaccine and testing volumes, which also beat the analyst consensus estimate of $1.10.
For fiscal 2023, Walgreens maintained its full-year adjusted EPS guidance of $4.45 to $4.65, despite facing challenges due to the decrease in COVID-19-related demand. Besides, the company aims to achieve mid-twenties percent adjusted EPS growth in the second half of fiscal 2023 at the midpoint.
“With the closing of VillageMD’s acquisition of Summit Health, WBA is now one of the largest players in primary care, with best-in-class assets across the care continuum. Both Walgreens and Boots are performing well by delivering compelling value to consumers, playing a critical role as community health destinations, and successfully navigating a challenging environment,” said Rosalind Brewer, the CEO of Walgreens Boots Alliance.
WBA Price Action:Walgreens has a 52-week high of $48.48 and a 52-week low of $30.39.
Walgreens shares are up 3.94% at $34.24 at the time of writing, according to Benzinga Pro.
