THE WHAT? Walgreens Boots Alliance (WBA) has reported Q2 earnings per share (EPS) from continuing operations of US$1.02, a YOY decrease compared with an EPS of US$1.06.
THE DETAILS Continuing operations adjusted EPS increased 25.9 percent to US$1.59, up 26.5 percent on a constant currency basis.
Q2 sales from continuing operations increased 3 percent YOY to US$33.8 billion, with operating income increasing to US$1.2 billion from US$832 million the previous year.
There was strong execution across business segments, which was led by COVID-19 vaccinations and testing, US retail comparable sales up 14.7 percent and Boots UK retail comparable sales up 22 percent, with share gains across all major categories.
According to WBA, “Robust growth in U.S. omnichannel business with digital sales up 38 percent in 2Q, on top of 78 percent in the year-ago period, driven by 3.9 million same day pick-up orders.”
THE WHY? Chief Executive Officer Rosalind Brewer said, “Second quarter results demonstrated broad-based execution, driving strong comparable sales and robust earnings growth. We continue to make important strides along our strategic priorities, building a consumer-centric, technology-enabled healthcare enterprise at the center of local communities.
“VillageMD and Shields are delivering tremendous pro forma sales growth compared to their year-ago standalone results, and our Walgreens Health segment is on track toward long-term targets. The strategic review of our Boots business is progressing, and our transformational actions are accelerating sustainable value creation.”