Walgreens Boots Alliance Reports Fiscal 2020 Second Quarter Results

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.

Sales in the second quarter were $35.8 billion, an increase of 3.7 percent from the year-ago quarter, and an increase of 4.1 percent on a constant currency basis. Effects from the COVID-19 pandemic began at the end of the second quarter and were not material to overall results.

Compared to the same quarter a year ago, operating income was $1.2 billion, a decrease of 18.7 percent, and adjusted operating income was $1.7 billion, a decrease of 12.0 percent, on both a reported and constant currency basis, reflecting lower U.S. pharmacy gross margin and year-over-year bonus changes, partially offset by cost savings from the Transformational Cost Management Program.

Net cash provided by operating activities was $1.4 billion in the second quarter and free cash flow was $1.1 billion.
more details at: https://www.walgreensbootsalliance.com/news-media/press-releases/2020/walgreens-boots-alliance-reports-fiscal-2020-second-quarter-results

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