US-based pharmacy retailer Walgreens Boots Alliance (WBA) has reported that its sales from continuing operations in fiscal 2022 (FY22) grew by 0.1% to $132.7bn compared with fiscal 2021 (FY21).
The company’s sales increased 1.2% on a constant currency basis driven by comparable sales growths at Walgreens and in the International segment, as well as US Healthcare acquisitions.
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For the 52 weeks to 31 August, WBA’s operating income from continuing operations declined by 40.8% to $1.4bn.
Its adjusted operating income from continuing operations rose by 0.3% on a reported basis to $5.1bn.
WBA’s reported net earnings from continuing operations were $4.3bn, up from $2.0bn a year earlier, while its earnings per share (EPS) from continuing operations grew from $2.30 in FY21 to $5.01.
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WBA CEO Rosalind Brewer said: “WBA has delivered ahead of expectations in the first year of our transformation to a consumer-centric healthcare company.
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By GlobalData“Our resilient business achieved growth while navigating macroeconomic headwinds.”
In the fourth quarter (Q4) of FY22, WBA saw its sales from continuing operations drop by 5.3% to $32.4bn compared with the corresponding period of FY21.
Operating loss from the company’s continuing operations was $822m, against an operating income of $910m for Q4 2021, and its net loss from continuing operations in the quarter was $415m.
WBA recorded a loss from continuing operations of $0.48 to a share in Q4 2022, compared to $0.89 in the same period of the prior year.
For fiscal 2023 (FY23), WBA expects its adjusted EPS to be between $4.45 and $4.65.
Brewer added: “FY23 will be a year of accelerating core growth and rapidly scaling our US Healthcare business.
“Our execution to date provides us visibility and confidence to increase the long-term outlook for our next growth engine and reconfirm our path to low teens adjusted EPS growth.”
