Another robust quarter
WBA reported another quarter of strong US script volume growth (+4.0%), with sales +2.5% ahead of expectations, benefiting from the formation of AllianceRx Wagreens Prime, the acquisition of RAD stores and FX tailwinds. Operating margins were ~10bps below expectations (in-line with AE), but adj. EPS was still $0.18 ahead, with a lower tax rate (~16.5%) adding ~$0.07 vs. AE. FY18 EPS guidance was implicitly raised $0.10 at the low-end, with the mid-point now $0.13 above consensus. Many moving parts, but another robust quarter from WBA, with the company also announcing that it had completed the RAD store acquisition after Q-end.Walgreens Boots Alliance is a holding company. Through its subsidiaries, the company is engaged in retail and wholesale pharmacy. The company's operations are organized into three divisions, which are also its reportable segments: Retail Pharmacy USA; Retail Pharmacy International; and Pharmaceutical Wholesale. The Retail Pharmacy USA division has pharmacy-led health and beauty retail offerings. The Retail Pharmacy International division has pharmacy-led health and beauty retail businesses. The Pharmaceutical Wholesale division, which mainly operates under the Alliance Healthcare brand, supplies medicines, other healthcare products and related services to pharmacies, doctors, health centers and hospitals.
Formed in 2003 by an established team from Cazenove, one of the most respected investment banks in the UK, Atlantic Equities conducts and publishes fundamental, bottom up research on mid and large cap US companies.
Atlantic provide order execution through a wide range of DMA products and algorithmic trading suites.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.