Walgreens's disappointing fiscal Q3
Shares of Walgreens fell 8% and have plunged nearly 35% this year.
2020-07-09 19:36
As expected COVID-19 the main factor of a disappointing fiscal Q3 earnings. Here the numbers:
- Adjusted per-share earnings are down 43.8% from $1.47 in the same period of the year prior
- Operating loss of $1.58 billion vs. operating income of $1.2 billion in fiscal Q3 2019
- GAAP losses per share is $1.95
- Free cash flow increased 23.7% to $2.4 billion
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Even though COVID-19 has affected the company greatly, Stefano Pessina - Executive Vice Chairman & CEO said the following:
Despite the challenges have come, we continue to be a well positioned company with robust and defendable cash flow and a solid balance sheet. This will allow us to invest with confidence in our business at a time when many other companies do not have the same capability.
WBA stock was down 9% as of Thursday morning.
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