Walgreens Boots Alliance, Inc. (listed on the Nasdaq) today announced results for the second quarter of fiscal 2017: GAAP earnings per share increased 15,3 percent compared to the same quarter a year ago. previous year, at $0,98. Adjusted net earnings per share increased 3,8% to $1,36, up 6.1% at constant currency.
As a result, GAAP net income increased 14,0% to $1,1 billion; Adjusted net income increased 3,7% to $1.5 billion, up 6,2% at constant currency. Sales totaled $29.4 billion, down 2,4% (+0,9% at constant currency). GAAP operating income was $1.5 billion, down 20,5%; adjusted operating income decreased 4,9% to $2.0 billion (-2,7% at constant currency).
GAAP net cash from operating activities was $2.9 billion, an increase of $504 million over the prior year quarter, with free cash flow of $2.6 billion, an increase of $560 million dollars. Cost transformation program achieved $1.5 billion cost reduction goal. The company has authorized a $1 billion share repurchase program.
Stefano Pessina, Executive Vice Chairman and CEO of Walgreens Boots Alliance, commented: “This quarter's results are in line with our expectations, despite challenging conditions in several markets. I am particularly pleased with the growth in pharmacy volumes and market share gains in the US Retail Pharmacy division, which has seen the largest increase in prescriptions in over seven years. We also continue to work toward obtaining regulatory approval for the acquisition of Rite Aid Corporation by the end of July, as part of the revised merger agreement announced last January.”
