Vaccinations, Easing Covid Restrictions Help Walgreens (WBA) Earnings

Last Updated: Thursday, October 14, 2021 1:44 PM | Kyle Depontes

Walgreens Boots Alliance, Inc. (WBA) reported better-than-expected earnings Thursday.

Vaccination Goals

The company said it beat it's goal of providing 13.5 million vaccinations in the quarter and 34.6 million in fiscal 2021. This led to fourth quarter sales from continuing operations of $34.3 billion, a 12.8% year-over-year increase.

So far, Walgreens has administered more than 40 million COVID-19 vaccinations and more than 16 million COVID-19 tests. With the FDA's recent approval of Pfizer booster shots for certain populations, the company should see steady vaccination rates for Q1 of 2022.

Easing COVID Restrictions

CEO Roz Brewer said in the company's press release, "Comparable U.S. pharmacy and retail sales both saw robust growth and recovery continued in our UK business as COVID-19 restrictions eased in the quarter."

Since the July 19 order, which saw the UK remove all limits on mixing and allowed venues like nightclubs and sports stadiums to open at full capacity, Walgreen's has seen increased traffic to its stores.

Overall, Walgreen's has benefited from a unique time in the COVID cycle in which vaccinations are higher and restrictions are being eased. In places where in-store traffic is lower, the company is benefiting from its omnichannel offerings, with curbside and drive-thru pickup contributing to strong digital growth and 3.3 million same-day transactions completed in the fourth quarter.

Share this article:

Related Companies

You May Also Like

Related Articles

Is it Time to Dump Newage Inc (NBEV) Stock After it Is Higher By 2.88% in a Week?

Should You Buy Philip Morris International Inc. (PM) Stock Monday?

Consumer Defensive Stocks Making Moves Monday: RLX, AGRO, ISWH, ACI, COE, BHIL, TAL, APPH

Related Companies