October 15, 2024 11:46 GMT
CONSUMER STAPLES: Walgreen Boots (B1 Stable/BB Neg) 4Q (3m to August) earnings
CONSUMER STAPLES
Equities +8% in US pre-market.
For those focused on leverage; headline sales growth beat for both US retail pharmacy and international. That combining with the 30bp margin beat in international and a small $17m contribution from US healthcare led to group "beating" on adj. EBIT ($424m vs. c$396m) and margin (0.9% vs. c0.8%).
- We would be weary of seeing this as a beat yet given the margin miss in US retail pharmacy - the core business.
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