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Walgreens Boots Alliance (NYSE: WBA) 2Q19 Results: Pricing and Reimbursement Pressures Hit Earnings; Company Lowers FY19 EPS Guidance

Executive Summary

  • Walgreens Boots Alliance reported 2Q19 revenues of $34.5 billion, in line with the consensus estimate and up 4.6% year over year. Diluted EPS came in at $1.24, down 8.8% year over year and below the consensus estimate of $1.50.
  • Comps for the Retail Pharmacy USA business fell 3.8%, while Retail Pharmacy International comps decreased 1.4%.
  • For FY19, Walgreens expects flat adjusted EPS, revised down from 7–12% growth.

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