WALGREENS BOOTS ALLIANCE Reports Third Quarter FY2023 Earnings Results on May 31 2023

🌥️Earnings Overview

On May 31 2023, WALGREENS BOOTS ALLIANCE ($NASDAQ:WBA) reported their third quarter FY2023 earnings results for the period ending June 27 2023. Revenue amounted to USD 35415.0 million, representing an 8.6% increase compared to the same period in the previous year. However, net income decreased by 59.2% to USD 118.0 million compared to the same period in the prior year.

Stock Price

The stock opened at $28.6 and closed at the same price, representing a drop of 9.3% from its prior closing price of $31.6. The company’s overall performance was also affected by supply chain disruptions and store closures, which have been occurring since February of this year. Despite the challenges, Walgreens Boots Alliance showed resilience in its core business and continued to invest in its digital transformation initiatives, such as its partnership with Microsoft to create an AI-powered patient care platform. The company also announced several new strategic partnerships with global healthcare companies in order to expand its offerings and maximize efficiency in its operations.

Overall, Walgreens Boots Alliance continues to invest in its core operations and digital transformation initiatives in order to remain competitive in an ever-changing market. The company’s performance in the third quarter of FY2023 was mixed, but management remains confident that the company is well-positioned for long-term success. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for WBA. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for WBA. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for WBA. More…

Key Ratios Snapshot

Some of the financial key ratios for WBA are shown below. More…

Analysis

At GoodWhale, we performed an analysis of WALGREENS BOOTS ALLIANCE’s wellbeing. According to our Risk Rating, WALGREENS BOOTS ALLIANCE is a medium risk investment in terms of financial and business aspects. We have detected one risk warning in the income sheet and advise investors to register with us to check it out. Our team is thoroughly familiar with the financials and business of WALGREENS BOOTS ALLIANCE and will ensure that investors are well-informed before investing. More…

Peers

Walgreens Boots Alliance Inc. operates in the retail pharmacy industry. The company’s main competitors are Clicks Group Ltd, Rite Aid Corp, and Hai-O Enterprise Bhd. Walgreens Boots Alliance Inc. is the largest retail pharmacy chain in the United States. The company operates over 9,000 stores in the United States and Puerto Rico.

– Clicks Group Ltd ($OTCPK:CLCGY)

Clicks Group Ltd is a South African company that owns the Clicks and Musica retail chains. It has a market capitalization of 3.74 billion as of 2022 and a return on equity of 41.88%. The company sells a variety of products including books, music, movies, and games. It also has a loyalty program called Clicks ClubCard.

– Rite Aid Corp ($NYSE:RAD)

Rite Aid Corporation is a drugstore chain in the United States. The company’s market cap is $228.4 million and its ROE is 240.91%. Rite Aid operates over 4,000 stores in 31 states and the District of Columbia. The company offers a wide variety of products and services, including prescriptions, health and wellness products, and photo finishing services.

– Hai-O Enterprise Bhd ($KLSE:7668)

Hai-O Enterprise Berhad is an investment holding company. The Company, through its subsidiaries, is engaged in the retail and direct selling of Chinese herbal products, Chinese proprietary medicines, health food, consumer products, and beauty and wellness products. It also provides management, marketing, and logistic services.

Summary

Walgreens Boots Alliance recently reported their financial results for the third quarter of FY2023, with overall revenue increasing 8.6% to USD 35415.0 million, and net income decreasing 59.2% to USD 118.0 million compared to the same period in the prior year. The company’s stock price dropped in response to the news, indicating that investors remain uncertain about the company’s performance and future prospects. Analysts should continue to monitor changes in the company’s financials to determine whether the income decline is due to a blip or a long term trend, and assess whether Walgreens Boots Alliance is a worthwhile investment.