Walgreens Boots Alliance Reports Fiscal 2023 Second Quarter Results

*Operating cash flow decreased 41% to $39.3 billion for the trailing twelve months, compared with $67.2 billion for the trailing twelve months ended March 31, 2021. *Free cash flow decreased to an outflow of $18.6 billion for the trailing twelve months, compared with an inflow of $26.4 billion for the trailing twelve months ended March 31, 2021. *Free cash flow less principal repayments of finance leases and financing obligations decreased to an outflow of $29.3 billion for the trailing twelve months, compared with an inflow of $14.9 billion for the trailing twelve months ended March 31, 2021. *Free cash flow less equipment finance leases and principal repayments of all other finance leases and financing obligations decreased to an outflow of $22.3 billion for the trailing twelve months, compared with an inflow of $16.8 billion for the trailing twelve months ended March 31, 2021. *Common shares outstanding plus shares underlying stock-based awards totaled 523 million on March 31, 2022, compared with 519 million one year ago. *Net sales increased 7% to $116.4 billion in the first quarter, compared with $108.5 billion in first quarter 2021. Excluding the $1.8 billion unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 9% compared with first quarter 2021. *Net loss was $3.8 billion in the first quarter, or $7.56 per diluted share, compared with net income of $8.1 billion, or $15.79 per diluted share, in first quarter 2021. First quarter 2022 net loss includes a pre-tax valuation loss of $7.6 billion included in non-operating expense from our common stock investment in Rivian Automotive, Inc.

The ODP Corporation announced that, subject to certain closing conditions, it has reached a definitive agreement for a sale and partial leaseback of its Boca Raton-based corporate headquarters. Upon completion of a sale, The ODP Corporation expects to lease a portion of the building’s office space from the new owner and to continue to occupy it as the company’s headquarters for a minimum of two years. “I’m excited about this opportunity and our commitment to maintaining Boca Raton as our headquarters and base of operations while continuing to embrace our low-cost flexible business model,” said Gerry Smith, chief executive officer for The ODP Corporation. “This is another example of how we are committed to leveraging our assets in the best way possible, enhancing our balance sheet and identifying smart ways to drive The ODP Corporation’s long-term growth and success.”

Dear Industry Member: Representatives from the Coalition for a 21st Century Postal Service (C-21), including ACMA’s Hamilton Davison, recently hosted staffers from a half dozen Congressional offices. The event was opened by mailing industry proponent Rep. Glenn Grothman (R-WI-6th, pictured at right). In addition to stressing the importance of the Postal Service, the goal was to educate a new crop of Capitol Hill postal staffers from offices that are not as familiar with what keeps the USPS delivering affordably and reliably and the need for legislation now. Representing Marketing Mail interests, Davison emphasized the potentially fatal impact the impending August 30th postage increase will have on catalog and other mailers’ future use of the mail. Other C-21 members discussed similar problems for the other mail classes from the rate hike as well as the USPS’s deliberate slowdown of mail delivery. see more detail at: https://catalogmailers.org/mailing-industry-coalition-briefs-congress-to-spur-action-on-postage-increases/