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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Walgreens Boots Alliance, Inc.    WBA

WALGREENS BOOTS ALLIANCE, INC.

(WBA)
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Walgreens promises return to profit growth as COVID-19 impact eases

10/15/2020 | 11:39am EST
The spread of the coronavirus disease (COVID-19) in York

(Reuters) - Walgreens Boots Alliance Inc on Thursday forecast a return to growth in profit next year, pinning hopes on shoppers coming back to its stores in the second half of the year after a safe and effective coronavirus vaccine is developed.

The drugstore retailer's shares rose 5% after it predicted a gradual recovery next year, with adjusted profit rising 30%-40% in the last two quarters of fiscal year 2021 following a decline of 17%-23% in the first two quarters.

Walgreens, whose 2020 adjusted profit fell 21%, has cut jobs, suspended share repurchases and closed some of its UK-based Boots stores to save costs and revive profit growth as the COVID-19 crisis hammered sales at its stores and pharmacies.

"We think the UK would be one country where there might be more lockdowns. We don't see major risk (of lockdowns) in the United States," Chief Financial Officer James Kehoe said.

Walgreen's forecast did not consider any profit from its pharmacies distributing future COVID-19 vaccines.

While chances of a large lockdown are low, it could result in a bigger hit to Walgreens' profit compared to any boost from the company's role in vaccine distribution, Kehoe added.

Drugmakers are racing to develop a coronavirus vaccine with some of the leading candidates currently being tested in large, decisive studies. U.S. health experts have said a vaccine could be available to many Americans by July of 2021.

The company expects adjusted profit for fiscal 2021 to grow in single digits at constant currency rates. Analysts estimate a growth of about 1%, according to IBES data from Refinitiv.

Walgreens shares, which were last up 3.5%, have lost about 37% this year. The stock is among the worst performers on the bluechip Dow Jones index <.DJI.>.

(Reporting By Manas Mishra and Mrinalika Roy in Bengaluru; Editing by Vinay Dwivedi and Patrick Graham)

By Mrinalika Roy and Manas Mishra


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL -0.58% 29872.47 Delayed Quote.5.28%
NASDAQ 100 0.60% 12152.215271 Delayed Quote.38.32%
NASDAQ COMP. 0.48% 12094.402197 Delayed Quote.32.41%
S&P 500 -0.16% 3629.65 Delayed Quote.12.35%
WALGREENS BOOTS ALLIANCE, INC. 1.43% 39.07 Delayed Quote.-33.73%
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Financials (USD)
Sales 2021 143 B - -
Net income 2021 3 175 M - -
Net Debt 2021 13 736 M - -
P/E ratio 2021 10,5x
Yield 2021 4,86%
Capitalization 33 831 M 33 831 M -
EV / Sales 2021 0,33x
EV / Sales 2022 0,31x
Nbr of Employees 277 000
Free-Float 61,1%
Chart WALGREENS BOOTS ALLIANCE, INC.
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Walgreens Boots Alliance, Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends WALGREENS BOOTS ALLIANCE, INC.
Short TermMid-TermLong Term
TrendsNeutralNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 22
Average target price 39,78 $
Last Close Price 39,07 $
Spread / Highest target 10,1%
Spread / Average Target 1,81%
Spread / Lowest Target -15,5%
EPS Revisions
Managers
NameTitle
Stefano Pessina Executive Vice Chairman & Chief Executive Officer
James A. Skinner Executive Chairman
Ornella Barra Co-Chief Operating Officer
Alexander W. Gourlay Co-Chief Operating Officer
James Kehoe Global Chief Financial Officer & Executive VP
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