Walgreens Q4 earnings: 6 things for pharma leaders to know

Walgreens Boots Alliance's fourth-quarter earnings per share and revenue, while lower than last year, exceeded Wall Street's expectations, according to CNBC.

Six things for pharmacy leaders to know:

  1. Walgreens' fourth-quarter profit fell by 55 percent to $677 million as the company spent more money to close unprofitable locations, lay off employees and cut down on tobacco sales. This compares to a profit of $1.51 billion during the fourth quarter of 2018.

  2. During the fourth quarter of 2019, Walgreens reported revenue of $33.95 billion, compared to $33.89 billion that analysts expected.

  3. Comparable sales in the company's U.S. retail pharmacy business increased 2.1 percent to $26 billion in the fourth quarter. Pharmacy sales drove a majority of the increases.

  4. During a call with analysts about its fourth-quarter earnings results, Walgreens announced plans to cut more than $1.8 billion in expenses by fiscal year 2022, more than the previously announced $1.5 billion.

  5. The company has already said it will close 200 Walgreens stores in the U.S. and 200 Boots stores in the U.K.

  6. Walgreens shares have fallen nearly 19 percent this year as it struggles to show investors it has a plan to compete with rivals.

Read the full article here.

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