Walgreens Boots Alliance 4Q2021: sales up 12.8 percent yoy after 4Q results exceed expectations

Walgreens Boots Alliance 4Q2021: sales up 12.8 percent yoy after 4Q results exceed expectations

THE WHAT? Walgreens Boots Alliance has reported its results for the final quarter and fiscal year ending August 31, 2021. The drug store operator’s results exceeded expectations across business segments, with sales from continuing operations up 12.8 percent yoy to US$34.3 billion in the fourth quarter, bringing sales growth for the year to 8.6 percent versus 2020’s figures.

THE DETAILS Net earnings from continuing operations hit US$2 billion for fiscal 2021, versus US$180 million in the year-ago period. Adjusted net earnings were up 12.8 percent yoy.

While sales were up across WBA’s US and International divisions, the latter delivered the most impressive uptick with the international segment reporting an increase of 61.8 percent in the fourth quarter comparted to the same period a year ago, attributed to the ongoing recovery in the UK market, and stronger demand for pharmacy services, most notably COVID-19 tests.

THE WHY? Chief Executive Officer Roz Brewer said, “Our fourth quarter and fiscal year results exceeded expectations, driven by strong performance in our core business. Comparable US pharmacy and retail sales both saw robust growth and recovery continued in our UK business as COVID-19 restrictions eased in the quarter. I remain extremely proud of our team members’ unwavering commitment to meeting the needs of our patients, customers and communities. The role of the pharmacist and local pharmacy is now more vital than ever.”

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