Becker's Healthcare March 28, 2024
Walgreens is marching on in its downsizing and bearing the costs tied to it, as its results for the second fiscal quarter of 2024 show.
Walgreens posted a loss of nearly $6 billion in its second fiscal quarter of 2024 due to a devaluation of its investment in primary care clinic chain VillageMD.
The company posted a Q2 operating loss of $13.2 billion in contrast to an operating income of $197 million in the same quarter of 2023. This operating loss was primarily due to a non-cash impairment charge of $12.4 billion related to VillageMD goodwill, which amounted to a $5.8 billion after-tax non-cash charge attributable to Walgreens.
Net loss in the second quarter was $5.9 billion compared to...
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