WBA - Why Walgreens Boots Alliance Stock Trounced the Market Today
2024-03-28 16:39:57 ET
As a single entity, the stock market did fairly well today. But Walgreens Boots Alliance (NASDAQ: WBA) did exceptionally well, with its share price closing more than 3% higher on the day compared to the S&P 500 index's 0.1% rise. That isn't surprising in retrospect, as the pharmacy chain operator reported encouraging quarterly results.
For its fiscal second quarter of 2024, Walgreens booked just over $37 billion in sales, which was a 6% improvement over the same period of fiscal 2023. On the bottom line, non- GAAP (adjusted) earnings edged up slightly to land at $1.04 billion, or $1.20 per share.
With those numbers, Walgreens easily topped the consensus analyst estimates. These predicted the company's sales would total $35.9 billion, and adjusted per-share net income would amount to only $0.82.
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Why Walgreens Boots Alliance Stock Trounced the Market Today