logo
  Join        Login             Stock Quote

Walgreen (WAG) Q1 Earnings, Sales Fall; Prescriptions Filled Drop

 December 21, 2012 07:52 AM
 


(By Balachander) Drugstore chain Walgreen Co (NYSE: WAG) reported a drop in earnings for the first quarter amid a decline in comparable store sales and prescriptions filled. Shares retreated 3.75 percent in premarket on Friday.

For the quarter, adjusted earnings per share (EPS) fell 18 percent to 58 cents from 71 cents, while GAAP net earnings dropped 25.5 percent to $413 million.

Sales declined 4.6 percent to $17.31 billion, and front-end comparable store sales fell 2.0 percent. Brand-to-generic prescription drug conversions impacted sales by $883 million or 4.9 percentage points in the first quarter.

[Related -Walgreen Company (NYSE:WAG) Q1 Earnings Preview: What To Watch?]

Total sales in comparable stores declined 8.0 percent.

Prescription sales, which generated 63.8 percent of sales in the first quarter, decreased 7.2 percent, while prescription sales in comparable stores declined 11.3 percent.

Prescriptions filled dropped 3.2 percent to 201 million. Prescriptions filled in comparable stores declined 4.8 percent, though the key measure improved 3.2 percentage points from a fall of 8.0 percent in the prior quarter.

Wall Street analysts, on average, expected earnings of 70 cents per share on sales drop of 4.00 percent.

Gross profit margin improved 130 basis points to 29.4 percent from 28.1 percent because of a rise in generic prescription drugs dispensed, the company said.

As of Nov. 30, 2012, Walgreens operated 8,516 locations in all 50 states, the District of Columbia, Puerto Rico and Guam.

[Related -Walgreen Co. (WAG) Dividend Stock Analysis]

WAG shares, which have been trading between $28.53 and $37.75 over the past year, closed Thursday's regular trading at $37.55.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageA Lesson For the Bears From 2007

Bears almost never get a top where they want it. During 2007, the S&P 500 fell below its 200-day moving read on...

article imageGoogle: Still Opportunities Ahead

Google (GOOGL) shares are finally recovering after announcing third-quarter earnings last week that were read on...

article imageThis Technical Indicator May Be The Simplest Way To Pick Winning Stocks

What's the first rule of successful real estate investing? Of course, you just said to yourself, "location, read on...

article imageUpdate On Crude Oil Markets

Crude prices came under pressure again today. According to Reuters (from last week), the Saudis “will read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.