Walgreens’ (NASDAQ:WBA) stock is gaining in on Thursday following the release of the pharmacy company’s earnings report for its fiscal fourth quarter of 2022.
The Walgreens earnings report starts with adjusted earnings per share of 80 cents. That’s better than the 77 cents per share Wall Street was expecting for the quarter. However, it’s a 31.8% decrease compared to the same time last year.
Another positive for WBA stock is the company’s revenue of $32.4 billion. Yet again, that comes in above analysts’ estimate of $32.09 billion for the period. It also represents a 5.3% drop from the same period of the year prior.
WBA’s Outlook for 2023 Looks Good
Walgreens includes guidance for the full year of 2023 in its earnings report. The company estimates adjusted EPS for the year will range from $4.45 to $4.65. That has a midpoint of $4.55 per share, which is above Wall Street’s fiscal 2023 estimate of $4.53 per share.
Rosalind Brewer, CEO of Walgreens, said the following in the earnings report:
Fiscal 2023 will be a year of accelerating core growth and rapidly scaling our U.S. 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. Our strategic actions are unlocking sustainable shareholder value as we simplify the company and continue our journey to being a healthcare leader.
Heavy trading also comes alongside the earnings report. This has more than 9 million shares of WBA stock changing hands this morning. That’s already above its daily average trading volume of 6.9 million shares.
WBA stock is up roughly 1% in Thursday’s pre-market trading.
There’s more recent stock market news traders will want to know about below!
InvestorPlace is home to all of the hottest stock market news for Thursday! That starts with our biggest pre-market stock movers, the latest moves from the Biden Administration, and more. You can check that out at the following links!
More Thursday Stock Market News
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday
- Aluminum Stocks Boom as Biden Administration Mulls Ban on Russian Metal
- Will Alopexx (ALPX) Stock Be the Next Hot IPO?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
