Walgreens (WAG) Tops Q1 EPS by 6c; Comps Rose 5.7%

Walgreens (NYSE: WAG) reported Q1 EPS of $0.81, $0.06 better than the analyst estimate of $0.75. Revenue for the quarter came in at $19.55 billion versus the consensus estimate of $19.48 billion.

Comps increased 5.7 percent.

“This quarter we had solid performance across both our pharmacy and retail products businesses,” Walgreens President and CEO Greg Wasson said. “We truly appreciate that our 8,200-plus store teams exceeded the overall retail market in year-over-year sales growth heading into the holiday season, as we grew gross profit dollars faster than our costs during the quarter. We also completed our financing to close the Alliance Boots transaction as we move toward our shareholder vote on Dec. 29 to finalize the merger, ahead of our original goal. This truly is an extraordinary time for Walgreens as we achieve our vision of becoming a pharmacy-led, global enterprise for health and wellbeing with Alliance Boots.”

Pharmacy sales, which accounted for 66.8 percent of sales in the quarter, increased 9.0 percent compared to the year-ago quarter, while pharmacy sales in comparable stores increased 8.1 percent. The company filled a record 222 million prescriptions in the quarter, an increase of 4.3 percent over last year’s first quarter. Prescriptions filled in comparable stores increased 4.1 percent in the quarter. As of Nov. 30, Walgreens retail prescription market share on a 30-day adjusted basis reached 19.0 percent, as reported by IMS Health.

For earnings history and earnings-related data on Walgreens (WAG) click here.

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