Walgreens Boots Alliance Q1 2020 net earnings decreased 24.8 percentChristian Fernsby ▼ | January 8, 2020
Walgreens Boots Alliance announced financial results for the first quarter of fiscal 2020, which ended November 30, 2019.
Walgreens Boots Alliance Adjusted net earnings decreased 11.8 percent
Topics: Walgreens Boots Alliance
Adjusted net earnings attributable to Walgreens Boots Alliance decreased 11.8 percent to $1.2 billion, down 11.6 percent on a constant currency basis, compared with the same quarter a year ago. Adjusted earnings per share were $1.37, a decrease of 6.0 percent on a reported currency basis and a decrease of 5.7 percent on a constant currency basis, compared with the same quarter a year ago.
Sales in the first quarter were $34.3 billion, an increase of 1.6 percent from the year-ago quarter, and an increase of 2.3 percent on a constant currency basis.
Compared to the same quarter a year ago, operating income was $1.0 billion, a decrease of 27.6 percent, and adjusted operating income was $1.5 billion, a decrease of 15.6 percent, down 15.4 percent on a constant currency basis, including more than 5 percentage points of adverse items such as year-over-year bonus changes. Operating income also reflected costs related to the acquisition of Rite Aid stores and to the implementation of the Transformational Cost Management Program.
Net cash provided by operating activities was $1.1 billion in the first quarter, an increase of $601 million from the same quarter last year, and free cash flow was $674 million, an increase of $684 million from the same quarter a year earlier, reflecting working capital efficiencies as the company executed against optimization initiatives. ■