Pharmacy Sales Drive Walgreens Q1 FY21 Sales Up 5% To $36.3 Billion

Though Walgreens Boots Alliance (WBA) had a tough fiscal 2020 (FY 2020), it is showing recovery signs that are expected to continue through the fiscal year 2021.

According to the research data analyzed and published by Finaria, the company was among the three worst performers on the Dow Jones Index in 2020. In December 2020, it was down 26% compared to the broader index’s 5% gain over the same period.

Based on Marketwatch data, the stock ended 2020 down nearly 30% from its January 2020 value. It was valued at $48.50 as of February 3, 2021, up by 21.46% year-to-date (YTD).

US Retail Pharmacy Sales Grew by 4% to $27.2 Billion in FY21 Q1

During fiscal 2020, Walgreens sales grew by 2% while its EPS dropped by 20.8% and operating income fell by 24.9%.

In FY21 Q1, the company’s sales totaled $36.3 billion, up from $34.34 billion in the previous-year period. That marked an increase of 5.7% YoY and 5.2% on a constant currency basis. Walgreens posted a $308 million net loss in that period, equivalent to 36 cents per share. Comparatively, it had an $845 million net profit in FY20 Q1 or 95 cents per share.

On the other hand, its top moneymaker during the quarter was US retail pharmacy. Its sales totaled $27.2 billion, up by 3.9% YoY. Comparable sales in the US rose by 5% YoY compared to 2.5% in the UK. Pharmaceutical wholesale business in the US grew by 18.6% to $7.1 billion. Retail pharmacy international was the worst, posting a 6.2% decline to $2.6 billion.

Walgreens is selling its drug distribution business in Europe to AmerisourceBergen for $6.5 billion. Thanks to a cost management program, it expects to save over $2 billion annually by fiscal 2022.

The full story, statistics and information can be found here: https://www.finaria.it/pr/pharmacy-sales-drive-walgreens-q1-fy21-sales-up-by-5-to-36-3-billion/

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