Walgreens Stock Collapses on Weak Outlook. Is Now the Time to Buy?

Share prices of Walgreens Boots Alliance (NASDAQ: WBA) plunged following the June 27 release of its fiscal third-quarter earnings report, with the stock having one of its worst days on record. The stock price has now fallen more than 53% since the start of 2024.Let's look at Walgreens' most recent quarterly report, why the stock plummeted, and whether now is the time to buy.For its fiscal Q3 (ended in May), Walgreens saw its revenue rise 2.6% year over year to $36.4 billion. However, adjusted earnings per share (EPS) fell 36.5% to $0.63. U.S. retail pharmacy sales rose 2.3% year over year, with same-store sales up 3.5%. Comparable pharmacy sales were up 5.7%, while comparable retail sales were down 2.3%. Adjusted operating income plunged 47.9% year over year to $501 million, hurt by weak retail sales and pharmacy reimbursement pressures.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Zum vollständigen Artikel