UPDATE: Walgreen Company (WAG) Tops Q2 EPS by 2c; Front-End Comps Down 2.6%
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(Updated - March 19, 2013 8:21 AM EDT)
Walgreen Company (NYSE: WAG) reported Q2 EPS of $0.96, $0.02 better than the analyst estimate of $0.94. Revenue for the quarter came in at $18.65 billion versus the consensus estimate of $18.72 billion.
Front-end comparable store sales (those open at least a year) decreased 2.6 percent in the second quarter, customer traffic in comparable stores decreased 5.2 percent and basket size increased 2.8 percent, while total sales in comparable stores decreased 2.6 percent.
Prescription sales came in flat, comps fell 2.7 percent, and accounted for 61.1 percent of total sales. Walgreen now accounts for 19.2 percent of the total U.S. prescription market, up 50 basis points in the most recent quarter.
Last quarter, front-end comps fell 2.0 percent while prescription sales fell 7.2 percent. Prescription sales also accounted for 63.8 percent of total sales last quarter.
First-half 2013 adjusted EPS came in at $1.54, from $1.59 in the same period last year.
"We are pleased with the quarter’s results as we saw substantial strength in our pharmacy performance, leading to strong earnings growth,” commented CEO Greg Wasson.
Walgreen and Alliance Boots also announced earlier today a strategic, long-term relationship with AmerisourceBergen (NYSE: ABC). Under the agreement, Walgreens will expand its existing relationship with AmerisourceBergen into a 10-year comprehensive primary distribution agreement for branded and generic pharmaceutical products. In addition, Walgreens and Alliance Boots will collaborate with AmerisourceBergen on global supply chain opportunities and will have rights to acquire a minority equity position in AmerisourceBergen.
For earnings history and earnings-related data on Walgreen Company (WAG) click here.
Walgreen Company (NYSE: WAG) reported Q2 EPS of $0.96, $0.02 better than the analyst estimate of $0.94. Revenue for the quarter came in at $18.65 billion versus the consensus estimate of $18.72 billion.
Front-end comparable store sales (those open at least a year) decreased 2.6 percent in the second quarter, customer traffic in comparable stores decreased 5.2 percent and basket size increased 2.8 percent, while total sales in comparable stores decreased 2.6 percent.
Prescription sales came in flat, comps fell 2.7 percent, and accounted for 61.1 percent of total sales. Walgreen now accounts for 19.2 percent of the total U.S. prescription market, up 50 basis points in the most recent quarter.
Last quarter, front-end comps fell 2.0 percent while prescription sales fell 7.2 percent. Prescription sales also accounted for 63.8 percent of total sales last quarter.
First-half 2013 adjusted EPS came in at $1.54, from $1.59 in the same period last year.
"We are pleased with the quarter’s results as we saw substantial strength in our pharmacy performance, leading to strong earnings growth,” commented CEO Greg Wasson.
Walgreen and Alliance Boots also announced earlier today a strategic, long-term relationship with AmerisourceBergen (NYSE: ABC). Under the agreement, Walgreens will expand its existing relationship with AmerisourceBergen into a 10-year comprehensive primary distribution agreement for branded and generic pharmaceutical products. In addition, Walgreens and Alliance Boots will collaborate with AmerisourceBergen on global supply chain opportunities and will have rights to acquire a minority equity position in AmerisourceBergen.
For earnings history and earnings-related data on Walgreen Company (WAG) click here.
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