WALGREENS BOOTS ALLIANCE Reports Third Quarter Results for Fiscal Year 2023

🌥️Earnings Overview

On June 27 2023, WALGREENS BOOTS ALLIANCE ($NASDAQ:WBA) reported their fiscal year 2023 third quarter results for the period ending May 31 2023. Total revenue saw a year-over-year rise of 8.6%, amounting to USD 35415.0 million. Nonetheless, net income for the quarter decreased by 59.2%, reaching USD 118.0 million.

Stock Price

The stock opened at $28.6 and closed at the same price, a 9.3% drop from the prior closing of 31.6. Overall, while Walgreens Boots Alliance reported positive financials for the third quarter, the stock price dropped 9.3% from the prior closing price due to investor concerns about the company’s long-term outlook in a competitive market. 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 analyze the fundamentals of WALGREENS BOOTS ALLIANCE to provide investors with a comprehensive overview of the company’s performance. According to our Star Chart, WALGREENS BOOTS ALLIANCE has a strong dividend rating, medium profit rating, and a weak asset rating. The company’s health score is 6 out of 10, indicating that it is likely to safely ride out any crisis without the risk of bankruptcy. We classify WALGREENS BOOTS ALLIANCE as a ‘cow’, which is a type of company that has demonstrated a track record of paying out consistent and sustainable dividends. Investors who are drawn to companies that provide reliable returns may be interested in WALGREENS BOOTS ALLIANCE. 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 reported their fiscal year 2023 third quarter results for the period ending June 27 2023, revealing an 8.6% increase in total revenue to USD 35415.0 million, but a 59.2% decrease in net income to USD 118.0 million. The news caused the stock price to dip on the same day. For investors, this could be a sign that the company is underperforming and may be a risky investment in the short-term. Going forward, investors should closely monitor Walgreens Boots Alliance’s financials and performance to determine if it is a safe investment option.