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Walgreens profit misses consensus by 28.0% in fiscal Q1

Walgreens Boots Alliance Inc. said its normalized net income for the fiscal first quarter ended Nov. 30 amounted to 54 cents per share, compared with the S&P Capital IQ consensus estimate of 75 cents per share.

EPS decreased 9.7% year over year from 60 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $514.3 million, a decrease of 10.2% from $572.9 million in the prior-year period.

The normalized profit margin rose to 3.2% from 3.1% in the year-earlier period.

Total revenue rose 6.7% on an annual basis to $19.55 billion from $18.33 billion, and total operating expenses climbed 6.4% from the prior-year period to $18.69 billion from $17.56 billion.

Reported net income grew 12.7% year over year to $812.6 million, or 85 cents per share, from $721.1 million, or 75 cents per share.