logo
Plus   Neg
Share
Email

Walgreens Boots Alliance Slashes FY19 Adj. EPS Growth Outlook - Quick Facts

While reporting financial results for the second quarter on Tuesday, Walgreens Boots Alliance, Inc. (WBA) slashed its adjusted earnings guidance for the full-year 2019.

For fiscal 2019, the company reduced its adjusted earnings growth guidance to now be roughly flat, at constant currency rates, from the earlier projected growth range of 7 to 12 percent. On a reported currency basis, the company anticipates about $0.04 cents per share of adverse currency impact.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $6.46 per share for the year. Analysts' estimates typically exclude special items.

Further, the company increased targeted annual cost savings to in excess of $1.5 billion from in excess of $1 billion by fiscal 2022 from the Transformational Cost Management Program. The company's global cost review, scheduled for completion by the end of April 2019, has provided sufficient visibility to increase the target.

During the second quarter and since the quarter ended, the company has taken decisive steps to reduce costs in the UK and to optimize the field management structure in the U.S.

On its long-term business model, the company confirmed its existing transformation priorities and announced it will be taking immediate action to reinforce and accelerate them. The company's business model aims to deliver improved performance in 2020, and mid-to-high single-digit growth in adjusted earnings, at constant currency rates, in the following years.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Harley-Davidson, in collaboration with Qianjiang Motorcycle co., plan to launch smaller engine capacity bikes of 338 CC in China by 2020. This is part of the company's strategic move to expand its bike production to Asian countries. The Chief Executive Officers of VMware, Inc. (VMW(, Microsoft Corp. (MSFT) and its unit LinkedIn Corp. are among the most popular with their respective employees, according to job and recruiting site Glassdoor's annual Employees' Choice Awards for Top CEOs in 2019. The awards feature six distinct company categories across North America and parts of Europe. Amazon.com Inc. has named Elizabeth Gilbert's novel City of Girls as the best book of 2019 so far. The annual list, compiled by Amazon editors and released by the online retailer, features the Top 20 books of the year that were published between January and June 2019. It also features the best books across various categories, including literary fiction, mystery and thriller, and biography.
Follow RTT