Walgreens lowers annual EPS guidance

(CercleFinance.com) - Walgreens Boots Alliance has lowered its adjusted EPS guidance for its 2023-24 financial year to between $2.
80 and $2.95, 'reflecting challenging trends in the drugstore sector and a worse-than-expected US consumer environment'.

The drugstore chain reported adjusted EPS of $0.63 for its third accounting quarter, down 36.6% at constant exchange rates, on revenues of $36.4 billion, up 2.5% excluding currency effects.

"We continue to face persistent consumer pressures in the US, and the impact of recent market dynamics that have eroded pharmacy margins", says CEO Tim Wentworth.

"Building on our strategic review, we are focused on improving our core business, tackling critical issues with urgency, and working to unlock growth opportunities", he continues.

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