Walgreen Earnings: Here’s Why Shares are Down Now
Walgreen Co. (NYSE:WAG) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 0.54%.
Walgreen Co. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 15.87% to $0.73 in the quarter versus EPS of $0.63 in the year-earlier quarter.
Revenue: Rose 5.08% to $17.94 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Walgreen Co. reported adjusted EPS income of $0.73 per share. By that measure, the company beat the mean analyst estimate of $0.72. It missed the average revenue estimate of $17.95 billion.
Quoting Management: “We had a solid quarter across our entire business. We saw improvement in our daily living business resulting from the investments we made and enhanced execution. We also saw continued strength in our pharmacy business as we increased our retail pharmacy market share for the fiscal year to 19.1 percent, and we continued to make great progress on controlling selling, general and administrative costs,” said Walgreens President and CEO Greg Wasson. “We closed the year with record sales and record free cash flow, and we were pleased to be able to return more than $1 billion to shareholders during fiscal 2013 as we increased our dividend for the 38th consecutive year.”
Key Stats (on next page)…