Adjusted EPS reached $1.16, unchanged from Q1 FY23 and down 25.8% on a constant currency basis, reflecting a 26% headwind from lower COVID-19 vaccine and testing volumes, beating the consensus of $1.10.
Adjusted operating income was $1.2 billion, down 25.4% on a constant currency basis, reflecting lower volumes of COVID-19 vaccinations and testing lapping the year-ago period's Omicron surge.
The company said it administered 2.4 million COVID-19 vaccinations in the quarter, down from around 11.8 million a year earlier.
U.S. pharmacy comparable script volume growth of 3.5 percent, excluding immunizations, ahead of expectations and sequentially improving vs. Q1 FY23.
Guidance: Walgreens maintains FY23 adjusted EPS of $4.45-$4.65 (consensus of $4.48) as strong core business growth is more than offset by lapping peak COVID-19 demand; pivoting to mid-twenties percent adjusted EPS growth in the second half of fiscal 2023 at the midpoint
Price Action: WBA shares are up 1.18% at $33.33 during the premarket session on the last check Tuesday.
Photo via Wikimedia Commons
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This article Walgreens Boots Alliance Posts Lower Q4 Profits On Falling COVID-19 Vaccination, Reaffirms Annual Guidance originally appeared on Benzinga.com
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