Walgreens (WBA) Q2 2020 earnings

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A pedestrian passes in front of a Walgreens Boots Alliance Inc. retailer in the Hollywood neighborhood of Los Angeles, California.

Christopher Lee | Bloomberg | Getty Illustrations or photos

Walgreens Boots Alliance beat Wall Street earnings expectations Thursday, sending shares up about 3% in early investing.

Here’s what Walgreens noted for its fiscal second quarter of 2020 in comparison with what Wall Street was expecting, primarily based on a study of analysts by Refinitiv:

  • Earnings per share: $1.52 adjusted, vs. $1.46 envisioned
  • Profits: $35.82 billion, vs. $35.27 billion envisioned

Walgreens mentioned it was on keep track of with its 2020 forecast to have about flat growth right before the coronavirus pandemic. It reported the impact of the outbreak is unclear, and it will supply updates in its upcoming earnings report.

In the 2nd quarter ended Feb. 29, web cash flow fell to $946 million, or $1.07 for every share, from $1.16 billion, or $1.24 per share, a yr before.

Immediately after adjustments, Walgreens gained $1.52 for each share, which was more than the $1.46 for each share analysts ended up anticipating, according to Refinitiv. 

Walgreens stated income grew to $35.82 billion, from $34.53 billion very last year, and greater than the $35.27 billion analysts envisioned.

The worldwide pharmacy chain has been one of the suppliers that has witnessed bigger demand as the coronavirus pandemic causes buyers to stock up on more than-the-counter medications, prescriptions and goods, these types of as cleansing provides and disposable gloves.

Walgreens has added new ways for buyers to get popular merchandise even though socially distancing. Final week, it stated clients could buy much more than 60 well known things, such as cleansing supplies, cough and cold remedies and system, at its more than 7,300 pharmacy travel-thrus in the U.S. It also has a partnership with Postmates to do contactless delivery to homes. 

Its competitor, CVS Overall health, has also viewed a surge of desire due to the fact of the pandemic and programs to fill 50,000 employment for retailer associates, property shipping and delivery drivers, distribution heart personnel and client company experts.

This tale is building and will be updated.

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