Exhibit 99.1

 

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Walgreens Boots Alliance Reports Fiscal 2020 Second Quarter Results

Business Performance on Track; Quarter Ahead of Company’s Expectations

Second quarter highlights, year-over-year

 

   

Sales increased 3.7 percent to $35.8 billion, up 4.1 percent on a constant currency basis

 

   

Operating income decreased 18.7 percent to $1.2 billion; Adjusted operating income decreased 12.0 percent to $1.7 billion, on both a reported and constant currency basis

 

   

EPS decreased 14.0 percent to $1.07; Adjusted EPS decreased 7.3 percent to $1.52, on both a reported and constant currency basis

Year-to-date highlights

 

   

Net cash provided by operating activities in the first half of fiscal 2020 was $2.5 billion, an increase of $1.3 billion compared with the same period a year ago; Free cash flow was $1.8 billion, an increase of $1.4 billion

Fiscal 2020 outlook

 

   

Prior to the COVID-19 pandemic, the company was on track to maintain fiscal 2020 guidance of roughly flat growth in adjusted EPS, at constant currency rates, plus or minus 3 percent

 

   

Future impacts of COVID-19 uncertain; updates will be provided in the next earnings report

Transformational Cost Management Program

 

   

Company on target to deliver in excess of $1.8 billion in annual cost savings by fiscal 2022

DEERFIELD, Ill., April 2, 2020—Walgreens Boots Alliance, Inc. (Nasdaq: WBA) today announced financial results for the second quarter of fiscal 2020, which ended February 29, 2020.

Executive Vice Chairman and CEO Stefano Pessina said, “We are pleased to report second quarter results exceeding our expectations, with sequential improvement in comparable U.S. prescription volume and retail sales. During these unprecedented times of global uncertainty, Walgreens Boots Alliance is on the front lines of combating the COVID-19 pandemic. Our number one priority is to continue to provide essential services, products and information at this critical moment of need, demonstrating our unwavering commitment to our customers and patients, and to our people.”

Overview of Second Quarter Results

Fiscal 2020 second quarter net earnings attributable to WBA decreased 18.2 percent to $946 million compared with the same quarter a year ago, while net earnings per share1 decreased 14.0 percent to $1.07 compared with the same quarter a year ago.

Adjusted net earnings attributable to WBA2 decreased 11.8 percent to $1.3 billion, on both a reported and constant currency basis, compared with the same quarter a year ago. Adjusted earnings per share were $1.52, a decrease of 7.3 percent on both a reported and constant currency basis, compared with the same quarter a year ago.


The following information was filed by Walgreens Boots Alliance, Inc. (WBA) on Thursday, April 2, 2020 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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