AllAnalyst Report
logoArgusJune 15, 2021

Walgreens Boots Alliance, Inc.: Previewing 3Q earnings

Symbols
WBA
Sector(s)
Healthcare
Rating
Current Price
$46.83
Price Target
Earnings Estimate
Summary

Walgreens Boots Alliance Inc. based in Deerfield, Illinois, is a holding company created in December 2014 when Walgreen completed its purchase of privately held Alliance Boots. The combined pharmacy, beauty and healthcare distribution company generated $139.5 billion in FY20 sales through its presence in more than 25 countries. About 75% of revenue is from the Pharmacy USA division. The company has almost 14,000 stores in 9 countries, including 9,277 in the U.S. and 4,605 in the UK and internationally, under the Walgreen, Duane Reade and Boots names. Alliance Healthcare distributes Pharmacy products to over 240,000 stores, clinics and hospitals in more than 20 countries. WBA owns 56.8 million shares of AmerisourceBergen, 28% of the company. Ownership will go to 29% when WBA closes the sale of the majority of Alliance Healthcare to Amerisource. WBA's fiscal year ends on August 31. The company has reclassified its operations with the divestiture of the wholesale businesses and the pharmacy businesses in Norway, Lithuania, and the Netherlands. The new organization has a United States unit, an International unit, and a Corporate & Other segment, which includes corporate costs and company investments.

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Analyst Profile

Chris Graja, CFA

Senior Analyst: Retail
Chris covers the Consumer sector for Argus. He was the #1 Stock Picker in the Household Durables sector, winning the 2019 StarMine U.S. Analyst award from Refinitiv. He was the #1 Stock Picker in Food and Staples Retailing, winning back-to-back U.S. Analyst Awards in 2015 and 2016. He received a prestigious Volunteer of the Year award from the New York Society of Security Analysts in 2000. Prior to Argus, Chris spent 16 years at Bloomberg Financial Markets. He was the Director of Training and a Senior Researcher for Bloomberg’s research division before joining the new Bloomberg magazine as Technical Studies Editor in 1993. He rose to Executive Markets Editor of the publishing group. Chris co-authored the book “Investing in Small-Cap Stocks,” which was published in three U.S. editions, an audio book, and two Chinese editions. Chris earned an MBA from Rutgers University. He is a CFA charterholder.