Walgreens’ (NASDAQ:WBA) earnings report for the second quarter of 2020 has WBA stock falling Thursday afternoon. This comes after reporting revenue of $35.82 billion, which is above Wall Street’s estimate of $35.26 billion. The company’s filing also included earnings per share (EPS) of $1.52 for the quarter, which is also above analysts’ estimates of $1.46.
The following is what else is worth mentioning from the most recent Walgreens earnings report.
- Revenue for the quarter is up 3.74% compared to $34.53 billion during the same time last year.
- Per-share earnings were 7.32% fewer than $1.64 during Q2 2019.
- Operating income of $1.23 billion is 19.08% lower year-over-year than $1.52 billion.
- Walgreens’ earnings also includes a net income of $952 million. That’s 16.49% worse than the company’s net income of $1.14 billion from the second quarter of 2019.
Stefano Pessina, Executive Vice Chairman and CEO of Walgreens, said this about the WBA stock earnings report:
“We are pleased to report second quarter results exceeding our expectations, with sequential improvement in comparable U.S. prescription volume and retail sales. During these unprecedented times of global uncertainty, Walgreens Boots Alliance is on the front lines of combating the COVID-19 pandemic. Our number one priority is to continue to provide essential services, products and information at this critical moment of need, demonstrating our unwavering commitment to our customers and patients, and to our people.”
The Walgreens earnings report does not include guidance. The company said it is withdrawing its fiscal 2020 guidance due to effects of the novel coronavirus.
WBA stock was down around 7.6% as of Thursday afternoon.
Nick Clarkson is a web editor at InvestorPlace.com. As of this writing, he did not hold a position in any of the aforementioned securities.
