Walgreens Boots Alliance beats Wall Street estimates

Walgreens Boots Alliance Inc. (NASDAQ: WBA) announced the latest financial results before the market open in the US on Tuesday.

The company beat both revenue and earnings per share (EPS) estimates.

Walgreens reported revenue of $34.862 billion for the quarter ending February 28, 2023 (up by 3.3% year-over-year) vs. $33.528 billion expected.

EPS reported at $1.16 per share (down by 27.2% year-over-year) vs. $1.103 per share estimate.

CEO commentary

“WBA exited a solid second quarter with acceleration in February, adding to our confidence in driving strong growth in the second half of the year. 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. We will continue to take bold actions to create sustainable long-term shareholder value,” CEO of the company, Rosalind Brewer said in a press release.

The stock was up by around 1% in pre-market trading following the latest results.

The stock is down by 11.83% year-to-date at $32.96 a share.

Stock performance

• 1 month: -7.29%
• 3 months: -14.02%
• Year-to-date: -11.83%
• 1 year: -31.12%

Walgreens Boots Alliance price targets

• Barclays: $43
• Evercore ISI Group: $35
• Loop Capital: $45
• Morgan Stanley: $37
• Truist Securities: $42
• JP Morgan: $40
• Credit Suisse: $41
• Mizuho: $41
• Cowen & Co.: $54
• Deutsche Bank: $50

Walgreens Boots Alliance Inc. is the 605^th largest company in the world with a market cap of $28.41 billion.

You can trade Walgreens Boots Alliance Inc. (NASDAQ: WBA) and many other stocks from the NYSE, NASDAQ, HKEX, ASX, LSE and DE with GO Markets as a Share CFD.

Sources: Walgreens Boots Alliance Inc., TradingView, MarketWatch, MetaTrader 5, Benzinga, CompaniesMarketCap