Steve Lacy greeted me in his office as if we were old friends. A top executive at the Meredith Corporation, he was a main driver of the company’s $2.8 billion acquisition of Time Inc. last November. With that deal, the 116-year-old Meredith Corporation became the largest magazine publisher in America. When he spoke, it was clear Mr. Lacy took pride in Meredith’s unassuming corporate culture, so far removed from the New York magazine scene. “In Des Moines, Iowa, we don’t have to prove anything to anybody about the Meredith Corporation,” Mr. Lacy said. “We don’t have drivers. We’d look silly, and it would be not in keeping with who we are.” He added, “I presume you know that if I want a black car, I can get one.” Click Read More below for additional information.
Fiscal 2018 Walgreens Boots Alliance highlights, year-over-year
•Sales increased 11.3 percent to $131.5 billion
•Operating income increased 15.4 percent to $6.4 billion; Adjusted operating income increased 3.5 percent to $7.8 billion
•EPS increased 33.6 percent to $5.05; Adjusted EPS increased 18.0 percent to $6.02
•Net cash provided by operating activities was $8.3 billion; Free cash flow was $6.9 billion
Fourth quarter highlights, year-over-year
•Sales increased 10.9 percent to $33.4 billion
•Operating income increased 35.6 percent to $1.5 billion; Adjusted operating income increased 0.1 percent to $1.9 billion
•EPS more than doubled to $1.55; Adjusted EPS increased 13.0 percent to $1.48
Fiscal 2019 guidance
•Company introduced guidance of 7 percent to 12 percent growth in fiscal 2019 adjusted EPS at constant currency rates
•At current exchange rates this results in an estimated range of $6.40 to $6.70 for fiscal 2019 adjusted EPS
Walgreens Boots Alliance, Inc. (Nasdaq: WBA) today announced financial results for the fiscal year and fourth quarter that ended August 31, 2018.
Executive Vice Chairman and CEO Stefano Pessina said, “We are pleased to have delivered double digit percentage growth in earnings per share while returning $6.8 billion to shareholders through share repurchases and dividends in fiscal 2018. The integration of the acquired Rite Aid stores is on track, and our pharmacy market share in the U.S. increased year-over-year on an annual basis. We are making progress on our partnership strategy both in the U.S. and internationally, including our most recent announcements with LabCorp, Kroger and Alibaba, which will provide additional opportunities for future growth.”
Overview of Fiscal Year Results
Fiscal 2018 net earnings attributable to Walgreens Boots Alliance increased 23.2 percent to $5.0 billion, while net earnings per share1 increased 33.6 percent to $5.05, compared with the prior year.
Adjusted net earnings attributable to Walgreens Boots Alliance2 in fiscal 2018 increased 8.8 percent to $6.0 billion, up 8.0 percent on a constant currency basis, compared with the prior year. Adjusted earnings per share increased 18.0 percent to $6.02, up 17.1 percent on a constant currency basis, compared with the prior year.
Sales increased 11.3 percent to $131.5 billion in fiscal 2018 compared with the prior year. On a constant currency basis, sales increased 10.0 percent.
Operating income in fiscal 2018 was $6.4 billion, an increase of 15.4 percent from the prior year. Adjusted operating income was $7.8 billion, an increase of 3.5 percent, and an increase of 2.9 percent on a constant currency basis.
Net cash provided by operating activities was $8.3 billion in fiscal 2018, an increase of $1.0 billion from fiscal 2017. Free cash flow was $6.9 billion, an increase of $1.0 billion from fiscal 2017.
more detail at: http://www.walgreensbootsalliance.com/newsroom/news/walgreens-boots-alliance-reports-fiscal-year-2018-results.htm