Walgreens Boots Alliance Reports Fiscal 2018 Third Quarter Results

Third quarter highlights
•GAAP diluted net earnings per share increased 26.2 percent from the year-ago quarter, to $1.35; Adjusted diluted net earnings per share increased 15.0 percent to $1.53
•GAAP net earnings attributable to Walgreens Boots Alliance increased 15.5 percent, to $1.3 billion; Adjusted net earnings attributable to Walgreens Boots Alliance increased 5.6 percent to $1.5 billion
•Sales increased 14.0 percent to $34.3 billion
•GAAP operating income increased 5.5 percent to $1.6 billion; Adjusted operating income increased 1.7 percent to $1.9 billion
•GAAP net cash provided by operating activities was $2.2 billion; Free cash flow was $1.9 billion

Share repurchase program and dividend increase
•Company authorized $10 billion share repurchase program
•Company declared 10 percent dividend increase

Fiscal 2018 guidance
•Company raised the lower end of its guidance for fiscal year 2018 by 5 cents per share and now anticipates adjusted diluted net earnings per share of $5.90 to $6.05

Walgreens Boots Alliance, Inc. (Nasdaq: WBA) today announced financial results for the third quarter of fiscal 2018, which ended 31 May 2018.

Executive Vice Chairman and CEO Stefano Pessina said, “I am pleased that, in what has been a challenging environment, we have again delivered solid earnings per share growth combined with healthy cash flow. We expect to continue to drive growth, bringing more patients to our U.S. pharmacies through the recent acquisition of Rite Aid stores and through strategic partnerships. The $10 billion share repurchase program announced this morning demonstrates our confidence in future business performance and, as ever, our focus on driving long-term stockholder value.”

Overview of Third Quarter Results
Fiscal 2018 third quarter net earnings attributable to Walgreens Boots Alliance determined in accordance with GAAP increased 15.5 percent to $1.3 billion compared with the same quarter a year ago, while GAAP diluted net earnings per share increased 26.2 percent to $1.35 compared with the same quarter a year ago.

Adjusted fiscal 2018 third quarter net earnings attributable to Walgreens Boots Alliance1 increased 5.6 percent to $1.5 billion, up 4.6 percent on a constant currency basis, compared with the same quarter a year ago. Adjusted diluted net earnings per share for the quarter increased 15.0 percent to $1.53, up 13.5 percent on a constant currency basis, compared with the same quarter a year ago.

Sales in the third quarter were $34.3 billion, an increase of 14.0 percent from the year-ago quarter, and an increase of 11.8 percent on a constant currency basis.

GAAP operating income in the third quarter was $1.6 billion, an increase of 5.5 percent from the same quarter a year ago. Adjusted operating income in the third quarter was $1.9 billion, an increase of 1.7 percent from the same quarter a year ago, and an increase of 0.9 percent on a constant currency basis.
moe detail at: http://www.walgreensbootsalliance.com/newsroom/news/walgreens-boots-alliance-reports-fiscal-2018-third-quarter-results.htm

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