Walgreens Boots Alliance Narrows Loss in Q4

Walgreens Boots Alliance, the pharmacy giant, has reported a narrower loss in its fiscal fourth quarter. The company's revenue was driven higher by growth in its pharmacy and healthcare businesses.

Financial Results

In the quarter ended Aug. 31, Walgreens posted a loss of $180 million, or 21 cents a share, compared to a loss of $415 million, or 48 cents a share, in the same period last year. Adjusted earnings, excluding one-time items, were 67 cents a share. This fell slightly short of analysts' expectations, who were anticipating 69 cents a share.

Revenue Growth

Walgreens recorded a 9.2% increase in sales, reaching $35.42 billion for the quarter. This exceeded analyst forecasts of $34.8 billion. The sales boost was primarily driven by growth in the U.S. retail pharmacy and international segments, as well as contributions from the healthcare business.

Narrowed Operating Loss

The company's operating loss was narrowed as it lapped a $783 million non-cash impairment charge from the previous year. The charge was related to intangible assets in its subsidiary Boots U.K.

These results coincide with the recent appointment of Tim Wentworth as Walgreens' new chief executive.