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.
沃尔格林-联合博姿（Walgreens Boots Alliance）周四发布2024财年第三季度销售额为363.5亿美元，同比增长2.6%（恒定汇率下上涨2.5%），超过了360亿美元的共识预期。
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.
沃尔格林-联合博姿将其2024财年调整后的每股收益指导降至2.80-2.95美元，相比之前的指导范围为3.20-3.35美元和预估值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."
由于收益表现未达到华尔街的估计，这家药店连锁公司透露将关闭一些在"逆风"中的"重要"店铺。
The disappointing earnings report caused shares to tumble as much as 25%.
令人失望的收益报告导致该公司的股价暴跌了25%。
Analyst reactions:
分析师反应：
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.
巴克莱银行维持该公司的低配级别评级，并将目标价从15美元下调至11美元，指出沃尔格林-联合博姿在持续的宏观逆风下将其2024财年每股收益指导下调，预计这种逆风将持续到2025财年。
- 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.
- 巴克莱预计沃尔格林-联合博姿有2000多家门店正在审查关闭，并考虑剥离VillageMD，而Boots和Shields将被保留。
BofA Securities reiterates the Underperform rating and lowers the price target to $11 from $22, citing headwinds that will persist/limited positive catalysts.
美银证券重申该公司的弱于大市级别评级，并将目标价从22美元下调至11美元，表示逆风将持续存在/积极催化因素有限。
- 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.
- 美银分析师写道，沃尔格林应该从关闭来爱德的门店和加速关闭多达25%的门店中受益。
- 分析师补充说，考虑到零售药房在药房生态系统中的薄弱地位相比于PBM和药品分销商，不确定零售药房的更积极的举措是否会带来积极的结果。
Evercore ISI maintains Walgreens Boots Alliance with an In-Line rating, lowering the price target from $17 to $10.
Evercore ISI保持沃尔格林-联合博姿的中性级别评级，将目标价从17美元下调至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.
- 该分析师写道，沃尔格林-联合博姿的业绩报告凸显了零售药店行业中持续面临的挑战，包括品牌盈利能力问题、通用转换、NADAC和处方增长。这些因素导致了行业面临的不稳定性。
- 尽管该公司管理层通过可能关闭约25％的不盈利门店来提高盈利能力是一个积极的步骤，但Evercore分析师写道，重大的经济利益预计要到2025年下半年或更晚才能实现。
Price Action: WBA shares are down 0.90% at $12.08 at last check Friday.
价格走势：周五最后一次检查时，WBA股价下跌0.90%，报12.08美元。
Photo via Wikimedia Commons
照片通过Wikimedia Commons