Search
HomeBusiness
Business

Drugstore Chain Walgreens Rebounds With $373M 4Q Profit

21Views
Soumyadeep Pal
Coverage By Soumyadeep Pal

COVID-19 took another bite out of Walgreens Boots Alliance quarterly numbers but this time left behind better-than-expected earnings.

The drugstore chain said Thursday that it made $373 million in the final quarter of fiscal 2020 after losing $1.7 billion the previous quarter, when millions of shoppers stayed home to avoid the rapidly spreading pandemic.

COVID-19 still hurt. The company estimated that the pandemics impact shaved about $520 million from its operating income. But Walgreens also grew sales and prescriptions at its established U.S. stores and saw an improved performance in the United Kingdom.

Overall, the company booked adjusted earnings of $1.02 per share in the three-month window that ended Aug. 31. Revenue climbed 2% to $34.75 billion.

Analysts expected, on average, earnings of 96 cents per share in the fiscal fourth quarter on $34.37 billion in revenue, according to financial data provider FactSet.

Walgreens Boots Alliance Inc., based in Deerfield, Illinois, runs more than 9,000 stores in the United States and several thousand more internationally.

The company said Thursday that it expects the pandemic to still affect its stores in the first half of 2021. It forecasts low, single-digit adjusted earnings per share growth next year.

Walgreens finished 2020 with adjusted EPS of $4.74. Analysts forecast, on average, earnings of $4.80 per share, which would represent growth of about 1%.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Previous article
Morgan Stanley 3Q Profit Rises 25%, Helped By Trading
Next article
Engineers improve fatigue life of high strength aluminium alloys by 25 times

Speak Your Mind

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Get in Touch

350FansLike
100FollowersFollow
281FollowersFollow
150FollowersFollow

Recommend for You

Oh hi there 👋
It’s nice to meet you.

Subscribe and receive our weekly newsletter packed with awesome articles that really matters to you!

We don’t spam! Read our privacy policy for more info.

You might also like

Business

Actual Number Of Coronavirus Deaths Is Likely Far Higher...

TOPLINE The number of confirmed deaths in the U.S. due to Covid-19 is significantly...
Soumyadeep Pal -
Business

How To Ensure Age Equity In Hiring When There...

With eager applicants across the age spectrum applying for...
Soumyadeep Pal -
Business

Here’s what to expect from Coca-Cola earnings

A person wearing a mask pushes a dolly cart past a Coca-Cola truck as...
Soumyadeep Pal -
Entrepreneurs

7 Ways to Optimize Accounting Process Againts Fraudsters –...

You can optimize your accounting process using some practical tips because trusting what you...
Soumyadeep Pal -

EDITOR PICKS

POPULAR POSTS

POPULAR CATEGORY

About Us

QNewsHub is your one stop destination for everything about business, science, technology, entertainment & reviews. We provide you with the latest breaking news and videos straight from the business, science, technology and entertainment industry from around the world.

Contact us: contact@qnewshub.com

Advertise with us: contact@qnewshub.com

Follow Us

Support Us & Be a Patreon

© 2024. QNewsHub Media | Check out our other awesome brand QNewsCrunch.