Walgreens Boots Alliance Reports Fourth Quarter and Fiscal 2017 Results

Fourth quarter highlights
•GAAP diluted net earnings per share were $0.76, down 20.0 percent from the year-ago quarter due to Rite Aid related costs, mainly merger termination fees; Adjusted diluted net earnings per share were $1.31, an increase of 22.4 percent on both an actual and constant currency basis
•GAAP net earnings attributable to Walgreens Boots Alliance decrease 22.1 percent, to $802 million; Adjusted net earnings attributable to Walgreens Boots Alliance increase 18.8 percent to $1.4 billion, up 19.1 percent on a constant currency basis
•Sales increase 5.3 percent to $30.1 billion, an increase of 6.4 percent on a constant currency basis
•GAAP operating income decreases 2.3 percent to $1.1 billion; Adjusted operating income increases 21.2 percent to $1.9 billion, up 22.3 percent on a constant currency basis

Fiscal 2017 highlights
•GAAP diluted net earnings per share decrease 1.0 percent from the prior year, to $3.78; Adjusted diluted net earnings per share increase 11.1 percent to $5.10, up 12.9 percent on a constant currency basis
•GAAP net earnings attributable to Walgreens Boots Alliance decrease 2.3 percent, to $4.1 billion; Adjusted net earnings attributable to Walgreens Boots Alliance increase 9.9 percent to $5.5 billion, up 11.6 percent on a constant currency basis
•Sales increase 0.7 percent to $118.2 billion, an increase of 3.3 percent on a constant currency basis
•GAAP operating income decreases 7.4 percent to $5.6 billion; Adjusted operating income increases 4.6 percent to $7.5 billion, up 6.5 percent on a constant currency basis
•GAAP net cash provided by operating activities was $7.3 billion; Free cash flow was $5.9 billion

Share repurchase program
•Company completes $5.0 billion share repurchase and adds $1.0 billion to program

Walgreens Boots Alliance, Inc. (Nasdaq: WBA) today announced financial results for the fourth quarter and fiscal year 2017, which ended 31 August 2017.

Executive Vice Chairman and CEO Stefano Pessina said, “We are pleased to report the company has performed well, with our businesses delivering significant progress while managing against ongoing prescription reimbursement pressure and competing in fast-changing retail environments. We look forward to building on this solid underlying growth in the year to come, enhanced by the expansion of our U.S. retail pharmacy network through the upcoming purchases of Rite Aid stores.”

Overview of Fourth Quarter Results
Fiscal 2017 fourth quarter net earnings attributable to Walgreens Boots Alliance determined in accordance with GAAP decreased 22.1 percent to $802 million compared with the same quarter a year ago, while GAAP diluted net earnings per share decreased 20.0 percent to $0.76 compared with the same quarter a year ago. The decreases in GAAP net earnings and GAAP net earnings per share reflect Rite Aid related costs, mainly merger termination fees.

Adjusted fiscal 2017 fourth quarter net earnings attributable to Walgreens Boots Alliance1 increased 18.8 percent to $1.4 billion, up 19.1 percent on a constant currency basis, compared with the same quarter a year ago. Adjusted diluted net earnings per share for the quarter were $1.31, up 22.4 percent on an actual and constant currency basis, compared with the same quarter a year ago.

Sales in the fourth quarter were $30.1 billion, an increase of 5.3 percent from the year-ago quarter, and an increase of 6.4 percent on a constant currency basis.

GAAP operating income in the fourth quarter was $1.1 billion, a decrease of 2.3 percent from the same quarter a year ago. Adjusted operating income in the fourth quarter was $1.9 billion, an increase of 21.2 percent from the same quarter a year ago, and an increase of 22.3 percent on a constant currency basis.

GAAP net cash provided by operating activities was $2.0 billion in the fourth quarter, and free cash flow was $1.6 billion.

Overview of Fiscal Year Results
Fiscal 2017 net earnings attributable to Walgreens Boots Alliance determined in accordance with GAAP decreased 2.3 percent to $4.1 billion, while GAAP diluted net earnings per share decreased 1.0 percent to $3.78, compared with the prior year. The decreases primarily reflect Rite Aid related costs.

Adjusted net earnings attributable to Walgreens Boots Alliance1 in fiscal 2017 increased 9.9 percent to $5.5 billion, up 11.6 percent on a constant currency basis, compared with the prior year. Adjusted diluted net earnings per share in the fiscal year increased 11.1 percent to $5.10, up 12.9 percent on a constant currency basis, compared with the prior year.

Sales increased 0.7 percent to $118.2 billion in fiscal 2017 compared with the prior year. On a constant currency basis, sales increased 3.3 percent.

GAAP operating income in fiscal 2017 was $5.6 billion, a decrease of 7.4 percent from the prior year. Adjusted operating income in the fiscal year was $7.5 billion, an increase of 4.6 percent, and an increase of 6.5 percent on a constant currency basis.

GAAP net cash provided by operating activities was $7.3 billion in fiscal 2017, and free cash flow was $5.9 billion.
more detail at:  http://www.walgreensbootsalliance.com/newsroom/news/walgreens-boots-alliance-reports-fourth-quarter-and-fiscal-2017-results.htm

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