Walgreens Boots Alliance Q4 net earnings decreased 22.1 percent
Staff Writer |
Walgreens Boots Alliance posted financial results for the fourth quarter ended August 31, 2017.
Article continues below
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. ■