Walgreens Boots Alliance is set to release its earnings report for the fiscal first quarter on Thursday before the market opens. Here's a breakdown of what you need to know:
Net Income
According to FactSet, analysts are expecting Walgreens to swing to a net profit of $367.6 million, or 24 cents per share. This is a significant improvement compared to the losses of $3.72 billion, or $4.31 per share, reported in the same period last year, primarily due to opioid-related settlements.
Adjusted Earnings Per Share
When excluding one-time items, the drugstore chain's forecasted earnings per share are expected to be 53 cents, as reported by FactSet.
Sales
FactSet predicts that Walgreens' sales will rise to $34.95 billion for the quarter, compared to $33.38 billion in the same period last year.
During the quarter, the company's stock rose by 15% and is currently trading at $25.81.
Key Areas of Interest
New Finance Chief: Investors will be keen to hear about any updates on the identification of a new finance chief to replace James Kehoe, who departed in August to join fintech company FIS Global.
Business Performance of Boots: Following a Bloomberg report suggesting that Walgreens is considering an exit from the U.K. pharmacy chain Boots, investors will closely monitor any comments regarding the business performance and future plans for Boots.
Healthcare Business Expansion: The market will be interested in Walgreens' plans for expanding its healthcare business and addressing the ongoing pharmacist shortage.
Covid-19 Impact: Any commentary on the company's Covid-19-related sales will also be of significant interest to investors.
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