Walgreens Boots Alliance (WBA) Fiscal 2Q18 Results: Beats Consensus Estimates and Raises Annual EPS Guidance

Executive Summary

• Walgreens Boots Alliance reported fiscal 2Q18 adjusted EPS of $1.73, handily beating the $1.55 consensus estimate and up 27.1% year over year. Revenues were $33.02 billion, up 12.1% year over year and beating the consensus estimate of $32.20 billion.
• Comps for the Retail Pharmacy USA business increased by 2.4%, while Retail Pharmacy International comps decreased by 1.7% and Pharmaceutical Wholesale comps increased by 3.4%.
• The company raised its FY18 EPS guidance to $5.85–$6.05 from $5.45–$5.70 previously. The guidance range is above the $5.79 consensus estimate.