Walgreens Boot Alliance beats by $0.23, misses on revs; guides FY15 EPS in-line; reaffirms FY16 EPS guidance; increases cost savings target (87.68)
Reports Q2 (Feb) earnings of $1.18 per share, excluding non-recurring items, $0.23 better than the Capital IQ Consensus Estimate of $0.95; revenues rose 35.5% year/year to $26.57 bln vs the $27.79 bln consensus, largely due to the inclusion of Alliance Boots for January and February
Co reaffirms guidance for FY16, sees EPS of $4.25-4.60, excluding non-recurring items, vs. $4.43 Capital IQ Consensus.
Co has identified additional opportunities for cost savings, primarily in its Retail Pharmacy USA division. These additional opportunities will increase the total expected cost savings program by $500 million to a projected $1.5 billion by the end of fiscal 2017.
- Retail Pharmacy USA division comparable store sales increase 6.9%
- Q2 report includes the results of Alliance Boots for two months (January and February) on a fully consolidated basis and one month (Dec) as equity income from Walgreen Co.'s pre-merger 45% interest.
Co reaffirms guidance for FY16, sees EPS of $4.25-4.60, excluding non-recurring items, vs. $4.43 Capital IQ Consensus.
Co has identified additional opportunities for cost savings, primarily in its Retail Pharmacy USA division. These additional opportunities will increase the total expected cost savings program by $500 million to a projected $1.5 billion by the end of fiscal 2017.