1. News
April 1, 2022

Walgreens Boots Alliance posts 5.4% sales increase for H1 2022

The company's H1 net earnings from continuing operations also increased to $4.5bn.

US-based pharmacy retailer Walgreens Boots Alliance (WBA) has reported that its sales from continuing operations were $67.7bn in the first six months (H1) of the fiscal year 2022 (FY22).

The figure represents a 5.4% growth on a year-on-year basis.

WBA’s operating income from continuing operations during the six months to 28 February was $2.5bn, compared with $298m in the same period a year earlier.

The company’s H1 net earnings from continuing operations increased by $3.9bn to $4.5bn, while its earnings per share (EPS) from continuing operations increased by $4.54 to $5.15 year-over-year (YoY).

For the second quarter (Q2), which ended on 28 February, WBA saw its sales from continuing operations grow by 3.0% on a YoY basis to $33.8bn.

Its operating income from continuing operations in the quarter was $1.2bn, compared with $832m in the prior-year period.

Adjusted operating income from the retailer’s continuing operations grew by 35.9% in the three-month period to $1.7bn on a constant currency basis.

WBA reported its net earnings declined to $883m compared with $922m in the same period of FY21, while adjusted net earnings from its continuing operations ‘surged’ by 25.8% to $1.4bn.

The company’s EPS from continuing operations also declined to $1.02 in Q2 from $1.06 in the same quarter a year ago.

WBA CEO Rosalind Brewer said: “Second quarter results demonstrated broad-based execution, driving strong comparable sales and robust earnings growth.

“We continue to make important strides along our strategic priorities, building a consumer-centric, technology-enabled healthcare enterprise at the centre of local communities.”

Earlier this year, WBA reported that sales from its continuing operations in Q1 2022 were $33.9bn, up from $31.4bn a year earlier.

The company generated an operating income of $1.3bn in the quarter, after recording a $535m loss in the same period of last year.