Exhibit 99.1





Walgreens Boots Alliance Reports Fiscal 2020 Third Quarter Results

Quarterly Performance Significantly Impacted by COVID-19 Pandemic

Company Accelerates Progress on Strategic Priorities

Estimated COVID-19 impact on the third quarter



Adverse sales impact of approximately $700 million to $750 million, almost entirely from the company’s non-U.S. businesses



Gross margin adversely impacted by shift from higher to lower margin categories, supply chain costs



SG&A increased due to higher employee costs and social distancing and cleaning expenses



Both operating income and adjusted operating income included an adverse impact of $700 million to $750 million from the above items, or $0.61 to $0.65 per share, excluding impairment charges



Most significant COVID-19 impact was in UK market, requiring a review resulting in non-cash impairment charges of $2 billion



Company took actions to partly mitigate COVID-19 impacts

Third quarter results, year-over-year



Sales increased 0.1 percent to $34.6 billion, up 1.2 percent on a constant currency basis, led by Retail Pharmacy USA comparable sales growth of 3.0 percent



Operating loss of $1.6 billion, compared to operating income of $1.2 billion a year ago, mainly due to the non-cash impairment charges of $2 billion in Boots UK; Adjusted operating income decreased 46.5 percent to $919 million on a reported basis, down 46.4 percent on a constant currency basis



Loss per share was $1.95, compared to EPS of $1.13 a year ago; Adjusted EPS decreased 43.8 percent from $1.47 to $0.83, down 43.4 percent on a constant currency basis; Results reflect $0.61 to $0.65 per share estimated operational impact from COVID-19

Significant progress on key strategic priorities



Company accelerated investments in strategic priorities, preparing for future growth



Company increased annual cost savings target from the Transformational Cost Management Program to in excess of $2.0 billion by fiscal 2022, from previous target in excess of $1.8 billion

Additional highlights



Net cash provided by operating activities was $3.4 billion, an increase of $183 million compared with the same period a year ago; Free cash flow increased 23.7 percent to $2.4 billion



Company introduced fiscal 2020 adjusted EPS guidance of $4.65 to $4.75 including estimated COVID-19 impacts of $1.03 to $1.14 per share



Company increased quarterly dividend by 2.2 percent, to an annual rate of $1.87 per share and suspended activity under its share repurchase program

DEERFIELD, Ill., July 9, 2020 - Walgreens Boots Alliance, Inc. (Nasdaq: WBA) today announced financial results for the third quarter of fiscal 2020, which ended May 31, 2020.

Executive Vice Chairman and CEO Stefano Pessina said, “Prior to the pandemic our financial performance for fiscal 2020 was on track with our expectations. However, this unprecedented global crisis led to a loss in the quarter as stay-at-home orders affected all of our markets. I’m very proud of how all of our teams mobilized and adapted to

The following information was filed by Walgreens Boots Alliance, Inc. (WBA) on Thursday, July 9, 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.

View differences made from one quarter to another to evaluate Walgreens Boots Alliance, Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Walgreens Boots Alliance, Inc..


Never Miss A New SEC Filing Again

Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.


We Highlighted This SEC Filing For You

SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.


Widen Your SEC Filing Reading Experience

Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view


Uncover Actionable Information Inside SEC Filings

SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q


Adobe PDF, Microsoft Word and Excel Downloads

Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis


FREE Financial Statements

Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator

Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not


Financial Stability Report

Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity


Get a Better Picture of a Company's Performance

Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years


Log in with your credentials


Forgot your details?

Create Account