Walgreens earnings for the company’s fiscal second quarter of 2019 have WBA stock falling hard on Tuesday.
Walgreens (NASDAQ:WBA) reported earnings per share of $1.64 for its fiscal second quarter of the year. This is down from its earnings per share of $1.73 from the same period of the year prior. It was also bad news for WBA stock by coming in below Wall Street’s earnings per share estimate of $1.74 for the quarter.
Net income reported in the Walgreens earnings release for its fiscal second quarter of 2019 was $1.14 billion. This is a drop from the company’s net income of $1.35 billion reported in its fiscal second quarter of 2018.
The Walgreens earnings report for its fiscal second quarter of the year also includes operating income of $1.52 billion. Operating income reported by the pharmacy chain operator for the same time last year was $1.98 billion.
Walgreens earnings for its fiscal second quarter of 2019 also has revenue coming in at $34.53 billion. This is an increase over the company’s revenue of $33.02 billion from its fiscal second quarter of the previous year. Unfortunately for WBA stock, this still doesn’t match analysts’ revenue estimate of $34.62 billion for the period.
Walgreens also updated its outlook in its most recent earnings report. It is now expecting earnings per share growth for fiscal 2019 to be roughly flat. It was previously expecting earnings per share growth between 7% and 12% for the year.
WBA stock was down 12% as of Tuesday morning and is down 6% since the start of the year.
As of this writing, William White did not hold a position in any of the aforementioned securities.
