Walgreens Boots Alliance Reports Fiscal 2023 Second Quarter Results

Chief Executive Officer Rosalind Brewer said: “WBA exited a solid second quarter with acceleration in February, adding to our confidence in driving strong growth in the second half of the year. With the closing of VillageMD’s acquisition of Summit Health, WBA is now one of the largest players in primary care, with best-in-class assets across the care continuum. Both Walgreens and Boots are performing well by delivering compelling value to consumers, playing a critical role as community health destinations, and successfully navigating a challenging environment. We will continue to take bold actions to create sustainable long-term shareholder value.”

WBA second quarter sales increased 3.3 percent from the year-ago quarter to $34.9 billion, an increase of 4.5 percent on a constant currency basis.

Operating income was $0.2 billion in the second quarter compared to $1.2 billion in the year-ago quarter. Operating income in the quarter reflects a $306 million pre-tax charge for opioid-related claims and litigation, Summit Health acquisition costs and higher costs related to the Transformational Cost Management Program.

Net earnings in the second quarter were $703 million compared to $883 million in the year-ago quarter. This decrease is driven by lower operating income partially offset by a $454 million after-tax gain from the partial sale of the Company’s equity method investment in AmerisourceBergen.

Net cash provided by operating activities was $745 million in the second quarter.
details at: https://www.walgreensbootsalliance.com/news-media/press-releases/2023/walgreens-boots-alliance-reports-fiscal-2023-second-quarter-results

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