Walgreens Reports an In-Line First Quarter; Firm Still in Transition on Several Fronts
Walgreens reported an in-line quarter, with moderate revenue growth and flat profit expansion. These results fall within our expectations, and we are reiterating our $70 fair value estimate. The firm is dealing with a rapidly shifting pharmacy retail market as a fundamental change takes hold throughout the entire U.S. healthcare ecosystem. Given the increased power of pharmacy benefit managers, retail pharmacies have had to contend with lower reimbursement and profit challenges as a result. To c...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.
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