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Walgreens Boots Alliance Reports Fiscal Year 2021 Earnings

Fourth Quarter Results Exceed Expectations, Reflecting Strong Operational Performance and Surpassing Vaccination Goals

Fourth quarter and fiscal year highlights

   

Fourth quarter earnings per share (EPS) from continuing operations were $0.41, an increase of 6.4 percent from the year-ago quarter; adjusted EPS1,2 increased 29.5 percent to $1.17, up 28.1 percent on a constant currency basis

 

   

Fourth quarter sales from continuing operations increased 12.8 percent year-over-year, to $34.3 billion, up 11.8 percent on a constant currency basis

 

   

Fiscal 2021 EPS from continuing operations was $2.30 compared with $0.20 in the year-ago period; adjusted EPS increased 14.6 percent to $4.91, up 13.7 percent on a constant currency basis

 

   

Fiscal 2021 sales from continuing operations increased 8.6 percent to $132.5 billion, up 7.5 percent on a constant currency basis

 

   

Net cash provided by operating activities in fiscal 2021 was $5.6 billion, an increase of $70 million compared with fiscal 2020; Free cash flow was $4.2 billion, up $65 million year-over-year

Company delivered strong operational performance in the fourth quarter

 

   

Results exceeded expectations across business segments

 

   

Walgreens surpassed COVID-19 vaccination goal, providing 13.5 million vaccinations in the quarter and 34.6 million in fiscal 2021

 

   

The company’s Transformational Cost Management Program delivered in excess of $2 billion in annual cost savings by fiscal 2021, a year ahead of schedule

 

   

Company leadership to discuss strategic priorities for the future and fiscal 2022 guidance at Virtual Investor Conference today

DEERFIELD, Ill., Oct. 14, 2021 - Walgreens Boots Alliance, Inc. (Nasdaq: WBA) today announced financial results for the fiscal year and fourth quarter that ended Aug. 31, 2021.

Chief Executive Officer Roz Brewer said, “Our fourth quarter and fiscal year results exceeded expectations, driven by strong performance in our core business. 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. I remain extremely proud of our team members’ unwavering commitment to meeting the needs of our patients, customers and communities. The role of the pharmacist and local pharmacy is now more vital than ever.”

Brewer added, “I look forward to sharing more about the future of WBA at our Virtual Investor Conference today.”

Overview of Fourth Quarter Results

WBA fiscal 2021 fourth quarter sales from continuing operations increased 12.8 percent from the year-ago quarter to $34.3 billion, up 11.8 percent on a constant currency basis1, reflecting strong growth in both the International and United States segments.

Operating income from continuing operations increased 49.7 percent to $910 million in the fourth quarter compared with the year-ago quarter. Adjusted operating income from continuing operations increased 22.9 percent on a reported currency basis to $1.2 billion, an increase of 22.1 percent on a constant currency basis. The increase reflects strong gross profit growth across pharmacy and retail in the United States and higher International segment sales and profitability due to strong operational performance and ongoing recovery in the UK, where COVID-19 restrictions were lifted in July.

 

1


The following information was filed by Walgreens Boots Alliance, Inc. (WBA) on Thursday, October 14, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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