Shares of Walgreens Boots Alliance (WBA -7.04%) were sinking 6.5% lower at 11:10 a.m. ET on Thursday and had been down as much as 11.7% earlier in the morning. The decline came after the pharmacy retailer and wholesaler announced its fiscal 2024 first-quarter results and reduced its dividend payout by 48%.Walgreens' fiscal Q1 revenue of $36.7 billion was better than the consensus Wall Street estimate of nearly $34.9 billion. Its adjusted earnings per share of $0.66 also topped the average analysts' estimate ...

Key TakeawaysWalgreens shares sank as the U.S. pharmacy chain cuts its dividend nearly in half.CEO Tim Wentworth said reducing the dividend will help boost cash flow and free up funds for strategic investments.First quarter earnings and revenue exceeded estimates, although retail sales declined.Walgreens Boots Alliance (WBA) shares tumbled over 6% in early trading Thursday as the biggest U.S. pharmacy chain slashed its dividend nearly in half, and said it would use the money for other purposes as it faced a ...

Walgreens Boots Alliance, Inc. (NASDAQ:WBA) Q1 2024 Earnings Conference Call January 4, 2024 8:30 AM ET Company Participants Tiffany Kanaga - Vice President, Global Investor Relations Tim Wentworth - Chief Executive Officer Manmohan Mahajan - Interim Global Chief Financial Officer John Driscoll - President of US Healthcare Rick Gates - Senior Vice President and Chief Pharmacy Officer Conference Call Participants Lisa Gill - JPMorgan George Hill - Deutsche Bank Charles Rhyee - TD Cowen Eric Percher - Nephron ...

Key PointsWalgreens Boots Alliance had a solid quarter, but trading is mixed following the report.A dividend cut intended to shore up cash flow and balance sheet shook the market. Analysts are Holding but may tip the scales now that guidance is in; Walgreens reiterated above consensus. 5 stocks we like better than Walgreens Boots AllianceWalgreens Boots Alliance NYSE: WBA is the ugliest dog of them all. This Dow stock fell 31% for the year, making it the worst-performing member of the index. The move put th ...

Walgreens Boots Alliance (WBA) came out with quarterly earnings of $0.66 per share, beating the Zacks Consensus Estimate of $0.63 per share. This compares to earnings of $1.16 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 4.76%. A quarter ago, it was expected that this largest U.S. drugstore chain would post earnings of $0.68 per share when it actually produced earnings of $0.67, delivering a surprise of -1.47%.Over the last ...

U.S. pharmacy chain Walgreens Boots Alliance on Thursday nearly halved its dividend to save more money, even as the company's cost-cut measures helped it report better-than-expected quarterly profit. Higher drug prices also boosted the pharmacy operations of the company, which has been grappling with fierce competition, sharply lower sales from COVID vaccines and testing, and decreased discretionary spending by inflation-weary consumers.The company was forced to close unprofitable stores and cut jobs to red ...

Justin Sullivan Walgreens Boots Alliance, Inc. (NASDAQ:WBA) has just perhaps committed the cardinal sin that dividend investors may never forgive. Especially, as the company was so close to achieving a legendary milestone. The struggling drug retail giant has just announced a nearly 50% haircut to its dividend as Seeking Alpha has covered here. Although I don't own a position in this stock, it hurts to see a dividend cut anytime, especially from a company that had a dividend growth streak of 47 years ah ...

Walgreens (NASDAQ:WBA) is one of the top-trending tickers on websites and social media today after the company announced that it would cut its dividend nearly in half. The firm also released better-than-expected results for its fiscal first quarter. However, WBA stock still fell by about 5% in early trading this morning. Walgreens’ Dividend Cut and Its Implications for Investors WBA slashed “its quarterly dividend by 48%, to 25 cents a share from 48 cents a share.” The move will reduce the stock’s dividend ...

Walgreens Boots Alliance on Thursday reported better-than-expected quarterly profit, as cost-cut measures and higher drug prices boosted its pharmacy operations, and the company nearly halved its dividend to accelerate its savings measures. Shares of the Deerfield, Illinois-based company rose more than 3% as the U.S. pharmacy giant cut dividend payments by 48% to 25 cents per share.The stock lost about 30% in 2023. Fierce competition from rivals, sharply lower sales from COVID-19 vaccines and testing, and d ...

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