Walgreens Boots Alliance Expected To Close 25% Of Stores, But Financial Benefit Visible Only Next Year-Analyst
Walgreens Boots Alliance Expected To Close 25% Of Stores, But Financial Benefit Visible Only Next Year-Analyst
On Thursday, Walgreens Boots Alliance Inc (NASDAQ: WBA) reported third-quarter fiscal year 2024 sales of $36.35 billion, up 2.6% year over year (+2.5% on constant currency), beating the consensus of $36 billion.
沃爾格林-聯合博姿（Walgreens Boots Alliance）週四發佈2024財年第三季度銷售額爲363.5億美元，同比增長2.6%（恒定匯率下上漲2.5%），超過了360億美元的共識預期。
Walgreens Boots Alliance has cut its fiscal year 2024 adjusted EPS guidance to $2.80-$2.95, compared to prior guidance of $3.20-$3.35 and consensus of $3.22.
沃爾格林-聯合博姿將其2024財年調整後的每股收益指導降至2.80-2.95美元，相比之前的指導範圍爲3.20-3.35美元和預估值3.22美元。
As the earnings fell short of Wall Street estimates, the pharmacy chain revealed it would close a "significant" number of stores in the face of "headwinds."
由於收益表現未達到華爾街的估計，這家藥店連鎖公司透露將關閉一些在"逆風"中的"重要"店鋪。
The disappointing earnings report caused shares to tumble as much as 25%.
令人失望的收益報告導致該公司的股價暴跌了25%。
Analyst reactions:
分析師反應：
Barclays maintains the Underweight rating and lowers the price target from $15 to $11, stating Walgreens Boots Alliance cut its fiscal year 2024 EPS guidance on continued macro headwinds, which it expects to persist to fiscal year 2025.
巴克萊銀行維持該公司的低配級別評級，並將目標價從15美元下調至11美元，指出沃爾格林-聯合博姿在持續的宏觀逆風下將其2024財年每股收益指導下調，預計這種逆風將持續到2025財年。
- Barclays anticipates Walgreens Boots Alliance has over 2,000 stores under closure review and is considering divesting VillageMD, while Boots and Shields will be retained.
- 巴克萊預計沃爾格林-聯合博姿有2000多家門店正在審查關閉，並考慮剝離VillageMD，而Boots和Shields將被保留。
BofA Securities reiterates the Underperform rating and lowers the price target to $11 from $22, citing headwinds that will persist/limited positive catalysts.
美銀證券重申該公司的弱於大市級別評級，並將目標價從22美元下調至11美元，表示逆風將持續存在/積極催化因素有限。
- The BofA analyst writes that Walgreens should benefit in the near term from closed Rite Aid stores and accelerating the closure of up to 25% of its stores.
- The analyst adds that given the retail pharmacy's weak position in the pharmacy ecosystem compared to PBMs and drug distributors, it is uncertain whether a more aggressive approach by retail pharmacies would lead to positive outcomes.
- 美銀分析師寫道，沃爾格林應該從關閉來愛德的門店和加速關閉多達25%的門店中受益。
- 分析師補充說，考慮到零售藥房在藥房生態系統中的薄弱地位相比於PBM和藥品分銷商，不確定零售藥房的更積極的舉措是否會帶來積極的結果。
Evercore ISI maintains Walgreens Boots Alliance with an In-Line rating, lowering the price target from $17 to $10.
Evercore ISI保持沃爾格林-聯合博姿的中性級別評級，將目標價從17美元下調至10美元。
- The analyst writes Walgreens Boots Alliance's earnings report has highlighted the ongoing challenges in the retail pharmacy sector, including issues with branded profitability, generic conversions, NADAC, and prescription growth. These factors contribute to the volatility the industry faces.
- While management's efforts to enhance profitability by potentially closing approximately 25% of unprofitable stores are a positive step, an Evercore analyst writes that significant financial benefits are not anticipated until the second half of 2025 or later.
- 該分析師寫道，沃爾格林-聯合博姿的業績報告凸顯了零售藥店行業中持續面臨的挑戰，包括品牌盈利能力問題、通用轉換、NADAC和處方增長。這些因素導致了行業面臨的不穩定性。
- 儘管該公司管理層通過可能關閉約25％的不盈利門店來提高盈利能力是一個積極的步驟，但Evercore分析師寫道，重大的經濟利益預計要到2025年下半年或更晚才能實現。
Price Action: WBA shares are down 0.90% at $12.08 at last check Friday.
價格走勢：週五最後一次檢查時，WBA股價下跌0.90%，報12.08美元。
Photo via Wikimedia Commons
照片通過Wikimedia Commons