Walgreens Boots Alliance WBA had a loss of $3.7 billion, or $4.31 per share, in the first quarter of 2023. It had a profit of $3.6 billion, or $4.13, in the same quarter in 2022. Adjusted earnings per share were $1.16 per share, against a FactSet consensus of $1.14. The earnings loss was attributed, in part, to a $5.2 billion after-tax charge for opioid claims. The retailer reported sales of $33.4 billion for the quarter, compared with $33.9 billion in the first three months of last year. The FactSet consensus was $32.9 billion. The company cited a 3% drop in sales in its U.S. Retail Pharmacy Business. Its U.S. healthcare business, which provides medical services and is a key part of the company’s strategy going forward, reported sales of $989 million for the quarter. Walgreens reiterated EPS guidance of $4.45 to $4.65 for the year and adjusted sales guidance to $133.5 billion to $137.5 billion for 2023. The company’s stock is down 30.6% over the past 12 months, while the broader S&P 500 SPX has declined 19.6%.
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