Exhibit 99.1

 

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Walgreens Boots Alliance Reports Fiscal 2019 Third Quarter Results

Third quarter highlights, year-over-year

 

   

Sales increased 0.7 percent to $34.6 billion

 

   

Operating income decreased 24.7 percent to $1.2 billion; Adjusted operating income decreased 11.7 percent to $1.7 billion

 

   

EPS decreased 16.5 percent to $1.13; Adjusted EPS decreased 4.0 percent to $1.47

2019 fiscal year guidance

 

   

Maintains guidance for fiscal 2019 adjusted EPS growth: roughly flat at constant currency rates

DEERFIELD, Ill., June 27 - Walgreens Boots Alliance, Inc. (Nasdaq: WBA) today announced financial results for the third quarter of fiscal 2019, which ended May 31, 2019.

Executive Vice Chairman and CEO Stefano Pessina said, “Following a difficult second quarter, we made progress in the third quarter against the strategic goals we set, and are pleased to report an improvement in our U.S. comparable growth compared with the first half of the year. We will continue our aggressive response to rapidly shifting trends, and have already seen improved U.S. retail sales and prescription growth and are making good progress in implementing our Transformational Cost Management Program. Together, this gives us the confidence to reiterate the fiscal 2019 guidance we previously provided.”

Overview of Third Quarter Results

Fiscal 2019 third quarter net earnings attributable to Walgreens Boots Alliance decreased 23.6 percent to $1.0 billion compared with the same quarter a year ago, while net earnings per share1 decreased 16.5 percent to $1.13 compared with the same quarter a year ago.

Adjusted net earnings attributable to Walgreens Boots Alliance2 decreased 12.1 percent to $1.3 billion, down 10.7 percent on a constant currency basis, compared with the same quarter a year ago. Adjusted earnings per share were $1.47, a decrease of 4.0 percent on a reported basis and a decrease of 2.4 percent on a constant currency basis, compared with the same quarter a year ago.

Sales in the third quarter were $34.6 billion, an increase of 0.7 percent from the year-ago quarter, and an increase of 2.9 percent on a constant currency basis, primarily due to growth in the Retail Pharmacy USA and Pharmaceutical Wholesale divisions.

Operating income was $1.2 billion, a decrease of 24.7 percent from the same quarter a year ago, including the impact of costs related to the Transformational Cost Management Program and a lower contribution from the company’s equity earnings in AmerisourceBergen due to the impairment of PharMEDium’s long-lived assets in the quarter. Adjusted operating income was $1.7 billion, a decrease of 11.7 percent from the same quarter a year ago, and a decrease of 10.4 percent on a constant currency basis, primarily due to lower U.S. pharmacy margins and retail sales, and Boots UK.

Net cash provided by operating activities was $2.0 billion in the third quarter, and free cash flow was $1.6 billion.


The following information was filed by Walgreens Boots Alliance, Inc. (WBA) on Thursday, June 27, 2019 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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