Walgreens Reports Positive Fiscal 3Q Despite Numerous Moving Parts; Guidance Reiterated; FVE $68
Narrow-moat Walgreens Boots Alliance reported quarterly results that were ahead of our expectations, helped by stronger prescription volumes and accelerated share repurchases. Despite higher volumes, gross margin was slightly shy of our expectations due to the increasing mix shift toward central pharmacy and branded drugs, which generate lower margins. Overall reimbursement appears to have stabilized, as the company is benefiting from better performance on value-based contracts and expansion int...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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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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