Walgreens Boots Alliance (WBA) Tops Q3 EPS by 4c; Boosts Lower-End of FY16 EPS Outlook

Walgreens Boots Alliance (NASDAQ: WBA) reported Q3 EPS of $1.18, $0.04 better than the analyst estimate of $1.14. Revenue for the quarter came in at $29.5 billion versus the consensus estimate of $29.71 billion.

Combined net synergies were $330 million in the fiscal 2016 third quarter and $947 million in the first nine months of fiscal 2016. In June, the company achieved its goal set in 2012 to reach at least $1 billion in combined net synergies in fiscal 2016 relating to the strategic combination with Alliance Boots. This excludes the synergy benefits related to the company’s strategic, long-term relationship with AmerisourceBergen, the benefits of refinancing the legacy Alliance Boots indebtedness at a lower cost and the proposed Rite Aid acquisition.

GUIDANCE:

Walgreens Boots Alliance sees FY2016 EPS of $4.45-$4.55, versus prior guidance of $4.35-$4.55 and the consensus of $4.49.

For earnings history and earnings-related data on Walgreens Boots Alliance (WBA) click here.

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