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• Walgreens Boots Alliance reported its financial results for Q2 today.
• Here's what its CEO Tim Wentworth said in a press release on Thursday.
• WBA is currently down close to 20% versus the start of this year.

Walgreens Boots Alliance Inc (Nasdaq: WBA) is trading slightly up in premarket on Thursday after reporting upbeat financial results for its second quarter.
 

Walgreens’ guidance for the full year

Investors are cheering also because the management issued encouraging guidance for the future. WBA now forecasts its adjusted per-share earnings to fall between $3.20 and $3.35 in fiscal 2024.

Analysts, in comparison, were at $3.24 per share. Tim Wentworth – the chief executive of Walgreens Boots Alliance said in a press release today:

 

We remain confident in our goal of achieving $1 billion in cost savings this year. We are continuing to strategically review our portfolio over the next three months in an effort to ensure it drives growth and delivers value.

Walgreens expects its U.S. Healthcare adjusted EBITDA to break even this year. Wall Street currently has a consensus “hold” rating on WBA.
 

Walgreens Q2 earnings snapshot

• Lost $5.9 billion that translates to $6.85 per share
• Had $703 million in net earnings a year ago
• Adjusted EPS printed at $1.20 as per the earnings report
• Sales jumped 6.3% year-over-year to $37.1 billion
• Consensus was 82 cents a share on $36.48 billion in revenue

Walgreens took a rather sizable $6.0 billion goodwill impairment charge related to VillageMD in the second quarter. Still, CEO Wentworth said on Thursday:

 

We’re encouraged by our first quarter of U.S. Healthcare positive adjusted EBITDA and another quarter of strong execution in pharmacy, as we look to re-energize and evolve its impact both at Walgreens and at large.

WBA currently pays a dividend yield of 4.76%.

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